https://www.taxtmi.com/caselaws?id=770237 Unaccounted business receipts from flat, plot and scrap sales, and alleged bogus steel purchases, were held taxable only to the extent of the profit element embedded in the transactions, not the entire gross receipts, because the material showed turnover rather than proved income in full. Section 43CA additions on plot sales were confined to the statutory tolerance band, and the sustained portion required valuation-based reconsideration. Salary disallowance was rejected because contemporaneous records supported services rendered and business purpose. An ad hoc addition based only on a section 133A survey admission was deleted, as a bare survey statement without corroboration could not sustain the addition. en-us Fri, 02 May 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770237 Unaccounted business receipts from flat, plot and scrap sales, and alleged bogus steel purchases, were held taxable only to the extent of the profit element embedded in the transactions, not the entire gross receipts, because the material showed turnover rather than proved income in full. Section 43CA additions on plot sales were confined to the statutory tolerance band, and the sustained portion required valuation-based reconsideration. Salary disallowance was rejected because contemporaneous records supported services rendered and business purpose. An ad hoc addition based only on a section 133A survey admission was deleted, as a bare survey statement without corroboration could not sustain the addition. Case-Laws Income Tax Fri, 02 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770237