https://www.taxtmi.com/caselaws?id=305052 The Revenue's appeal was against the deletion of an addition made by the Assessing Officer on account of survey disclosure. The Assessing Officer treated the disclosed amounts as income from other sources, while the assessee claimed them as income from trading receipts. The CIT(A) allowed the claim, stating the disclosed amounts were business income included in the book profit. The Tribunal upheld this decision, confirming that the disclosed income was considered business income, allowing deductions under section 40(b) of the Income-tax Act, 1961. en-us Fri, 21 Jan 2011 00:00:00 +0530 Mon, 14 Nov 2022 14:35:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305052 The Revenue's appeal was against the deletion of an addition made by the Assessing Officer on account of survey disclosure. The Assessing Officer treated the disclosed amounts as income from other sources, while the assessee claimed them as income from trading receipts. The CIT(A) allowed the claim, stating the disclosed amounts were business income included in the book profit. The Tribunal upheld this decision, confirming that the disclosed income was considered business income, allowing deductions under section 40(b) of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 21 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305052