https://www.taxtmi.com/caselaws?id=255193 The High Court ruled in favor of the appellant, overturning the Tribunal's decision on two issues. Firstly, the disallowance of Rs. 4.50 Lacs under Section 40(b) was deemed unjustified as the appellant had no other source of income besides their business activities. Secondly, the undisclosed income offered during a survey was considered part of the business income rather than income from other sources, as no evidence indicated alternative income sources. The appeal was allowed, and the original order of the CIT(A) was reinstated, resulting in a favorable outcome for the appellant. en-us Mon, 22 Dec 2014 00:00:00 +0530 Fri, 09 Jan 2015 22:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255193 The High Court ruled in favor of the appellant, overturning the Tribunal's decision on two issues. Firstly, the disallowance of Rs. 4.50 Lacs under Section 40(b) was deemed unjustified as the appellant had no other source of income besides their business activities. Secondly, the undisclosed income offered during a survey was considered part of the business income rather than income from other sources, as no evidence indicated alternative income sources. The appeal was allowed, and the original order of the CIT(A) was reinstated, resulting in a favorable outcome for the appellant. Case-Laws Income Tax Mon, 22 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255193