https://www.taxtmi.com/forum/issue?id=115740 Cash payments for cost of improvement are acceptable if recorded in the cash book, ledger and balance sheet; where no books exist, the payer must demonstrate sources of cash (cash balances, bank withdrawals, or cash income) to substantiate the expenditure. Absent such records or source evidence, the amounts may be treated as undisclosed expenses and added to income, exposing the taxpayer to assessment adjustments. en-us Wed, 04 Dec 2019 17:43:33 +0530 Thu, 23 Jan 2025 15:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115740 Cash payments for cost of improvement are acceptable if recorded in the cash book, ledger and balance sheet; where no books exist, the payer must demonstrate sources of cash (cash balances, bank withdrawals, or cash income) to substantiate the expenditure. Absent such records or source evidence, the amounts may be treated as undisclosed expenses and added to income, exposing the taxpayer to assessment adjustments. Discussion-Forum Income Tax Wed, 04 Dec 2019 17:43:33 +0530 https://www.taxtmi.com/forum/issue?id=115740