https://www.taxtmi.com/caselaws?id=289895 Cash credits in regular books may be telescoped against the peak of undisclosed receipts in seized material where the facts show the same funds are being brought to tax and no separate source of income or assets exists. The text also states that interest for delayed filing of a block return must be charged at the rate applicable during the relevant period, and a later reduced rate cannot be applied retrospectively. On the stated facts, telescoping was accepted for the additions, while the interest rate was restored to 2% for the default period. en-us Fri, 22 Jul 2011 00:00:00 +0530 Fri, 28 Aug 2020 17:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289895 Cash credits in regular books may be telescoped against the peak of undisclosed receipts in seized material where the facts show the same funds are being brought to tax and no separate source of income or assets exists. The text also states that interest for delayed filing of a block return must be charged at the rate applicable during the relevant period, and a later reduced rate cannot be applied retrospectively. On the stated facts, telescoping was accepted for the additions, while the interest rate was restored to 2% for the default period. Case-Laws Income Tax Fri, 22 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289895