https://www.taxtmi.com/highlights?id=60352 Undisclosed income - since the advances made to boat owners was subject to tax out of which fish was supplied and Same was sold and the sale proceeds was shown as receivables from debtors. Allowing relief to the assessee as bad debts / business loss out of advances given to the boat owners is a separate issue. It is because of certain advances given to the boat owners was allowed as business loss, that cannot lead to the conclusion that the entire amount of unaccounted sales is to be taxed. - AT en-us Tue, 02 Nov 2021 17:11:49 +0530 Tue, 02 Nov 2021 17:11:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60352 Undisclosed income - since the advances made to boat owners was subject to tax out of which fish was supplied and Same was sold and the sale proceeds was shown as receivables from debtors. Allowing relief to the assessee as bad debts / business loss out of advances given to the boat owners is a separate issue. It is because of certain advances given to the boat owners was allowed as business loss, that cannot lead to the conclusion that the entire amount of unaccounted sales is to be taxed. - AT Highlights Income Tax Tue, 02 Nov 2021 17:11:49 +0530 https://www.taxtmi.com/highlights?id=60352