https://www.taxtmi.com/caselaws?id=400225 Income disclosed during survey under sections 69 and 69A is deemed income of the relevant year, but it does not form a separate head of income; it must still be classified under section 14. Where excess cash, stock and receivables are found at the business premises and no source other than the business is shown, the surrendered amount can be treated as business income. If that amount is credited to the profit and loss account, it enters book profit computed under Chapter IV-D and can support partners' remuneration under section 40(b). en-us Tue, 27 Oct 2020 00:00:00 +0530 Sat, 31 Oct 2020 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400225 Income disclosed during survey under sections 69 and 69A is deemed income of the relevant year, but it does not form a separate head of income; it must still be classified under section 14. Where excess cash, stock and receivables are found at the business premises and no source other than the business is shown, the surrendered amount can be treated as business income. If that amount is credited to the profit and loss account, it enters book profit computed under Chapter IV-D and can support partners' remuneration under section 40(b). Case-Laws Income Tax Tue, 27 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400225