https://www.taxtmi.com/caselaws?id=465948 Treatment of surrendered cash focuses on whether admitted receipts constitute unexplained income and the consequent tax treatment. The tribunal finds that an admission that source witnesses were unwilling to come forward amounts to non-explanation of source, permitting the AO to treat the sums as unexplained and assess them as deemed income under s. 69A, with tax consequences governed by s. 115BBE. Classification under different heads is relevant only for computation; the assessees contention that admission precludes assessment under s. 69A is rejected. A request for admission of additional evidence is refused as untenable. en-us Mon, 15 Apr 2024 00:00:00 +0530 Sat, 17 Jan 2026 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465948 Treatment of surrendered cash focuses on whether admitted receipts constitute unexplained income and the consequent tax treatment. The tribunal finds that an admission that source witnesses were unwilling to come forward amounts to non-explanation of source, permitting the AO to treat the sums as unexplained and assess them as deemed income under s. 69A, with tax consequences governed by s. 115BBE. Classification under different heads is relevant only for computation; the assessees contention that admission precludes assessment under s. 69A is rejected. A request for admission of additional evidence is refused as untenable. Case-Laws Income Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465948