AdvertisementMunijhar Vs ITO (ITAT Delhi) Delhi ITAT: Presumptive Taxpayer Under Section 44AD Cannot Be Faulted for Absence of Cash Balance in Earlier ITRs; Demonetisation Addition Deleted The Delhi ITAT deleted additions aggregating over ₹1.05 crore, holding that an assessee declaring income under the presumptive taxation scheme of section 44AD cannot be disbelieved merely because earlier ITRs did not disclose detailed cash balances or balance sheet particulars, when such disclosures were not statutorily required. The Assessing Officer had made an addition of ₹45.98 lakh under section 69A, treating ca...