https://www.taxtmi.com/caselaws?id=27909 Where suppressed business profits and unexplained cash credits arise in the same year, the assessee may establish that the credits were introduced out of the very profits already added as trading suppression. If that factual nexus is accepted, the two amounts may be telescoped into one addition so the same income is not taxed twice. The cash credits can therefore be treated as undisclosed business profits when the circumstances support that connection, and the Revenue cannot insist on separate additions once the linkage is proved. The principle applied is that unexplained income remains taxable, but double taxation of the same income is avoided where the source overlaps. en-us Mon, 20 Jun 1983 00:00:00 +0530 Tue, 16 Feb 2010 17:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27909 Where suppressed business profits and unexplained cash credits arise in the same year, the assessee may establish that the credits were introduced out of the very profits already added as trading suppression. If that factual nexus is accepted, the two amounts may be telescoped into one addition so the same income is not taxed twice. The cash credits can therefore be treated as undisclosed business profits when the circumstances support that connection, and the Revenue cannot insist on separate additions once the linkage is proved. The principle applied is that unexplained income remains taxable, but double taxation of the same income is avoided where the source overlaps. Case-Laws Income Tax Mon, 20 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27909