https://www.taxtmi.com/caselaws?id=467514 Amounts offered during survey and later entered into the assessee's books were treated as business income where they were routed through regular business accounts; the governing principle applied was that surrender amounts recorded as business transactions, absent cogent material showing an independent source, attract normal rate taxation rather than a special-rate levy. The revenue's reliance on unexplained-income provisions was rejected for want of separate-source evidence, and the invocation of the special-rate provision was held unjustified, resulting in taxability at normal rates. en-us Thu, 20 Feb 2025 00:00:00 +0530 Tue, 17 Mar 2026 18:15:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467514 Amounts offered during survey and later entered into the assessee's books were treated as business income where they were routed through regular business accounts; the governing principle applied was that surrender amounts recorded as business transactions, absent cogent material showing an independent source, attract normal rate taxation rather than a special-rate levy. The revenue's reliance on unexplained-income provisions was rejected for want of separate-source evidence, and the invocation of the special-rate provision was held unjustified, resulting in taxability at normal rates. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467514