https://www.taxtmi.com/caselaws?id=466913 Surrendered receipts declared during survey, when supported by contemporaneous records and a fund flow linking them to business operations and lacking independent physical identity, are taxable as normal business income and may be telescoped/set off against additions; deeming provisions and enhanced tax on unexplained income do not apply where source and nexus are satisfactorily established. Separately, an alleged unexplained investment in factory building was deleted where the assessee proved sufficient available funds despite valuation differences, resulting in the Revenue appeal being dismissed on these grounds. en-us Mon, 24 Feb 2025 00:00:00 +0530 Thu, 26 Feb 2026 03:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466913 Surrendered receipts declared during survey, when supported by contemporaneous records and a fund flow linking them to business operations and lacking independent physical identity, are taxable as normal business income and may be telescoped/set off against additions; deeming provisions and enhanced tax on unexplained income do not apply where source and nexus are satisfactorily established. Separately, an alleged unexplained investment in factory building was deleted where the assessee proved sufficient available funds despite valuation differences, resulting in the Revenue appeal being dismissed on these grounds. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466913