https://www.taxtmi.com/caselaws?id=777809 Accumulated salary receipts recorded in the books of a proprietary concern were accepted as the explained source of an investment, because the salary had been offered to tax in earlier years and interest was credited year after year on the unpaid balance. The transactions were duly reflected in the books, and the concern had also declared income under the presumptive scheme. On those facts, the source of funds stood explained and the addition as unexplained investment could not be sustained. The ITAT therefore deleted the addition of Rs. 44 lakh. en-us Wed, 03 Sep 2025 00:00:00 +0530 Fri, 05 Sep 2025 08:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777809 Accumulated salary receipts recorded in the books of a proprietary concern were accepted as the explained source of an investment, because the salary had been offered to tax in earlier years and interest was credited year after year on the unpaid balance. The transactions were duly reflected in the books, and the concern had also declared income under the presumptive scheme. On those facts, the source of funds stood explained and the addition as unexplained investment could not be sustained. The ITAT therefore deleted the addition of Rs. 44 lakh. Case-Laws Income Tax Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777809