https://www.taxtmi.com/caselaws?id=358676 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, holding that the surrendered income of Rs. 1,21,85,000/- should be treated as business income and not deemed income under section 69. The Tribunal emphasized the consistent explanation provided by the assessee that the surrendered income was related to real estate transactions and not unexplained money or investment. Additionally, the Tribunal noted the assessee's hyper-cautious approach in making a blanket surrender to cover any discrepancies in the seized documents. en-us Wed, 28 Mar 2018 00:00:00 +0530 Tue, 17 Apr 2018 06:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358676 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, holding that the surrendered income of Rs. 1,21,85,000/- should be treated as business income and not deemed income under section 69. The Tribunal emphasized the consistent explanation provided by the assessee that the surrendered income was related to real estate transactions and not unexplained money or investment. Additionally, the Tribunal noted the assessee's hyper-cautious approach in making a blanket surrender to cover any discrepancies in the seized documents. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358676