https://www.taxtmi.com/caselaws?id=789019 Proved surplus funds from earlier assessment years were treated as sufficient to explain later unexplained income and vehicle investment, so telescoping relief was allowed and those additions were deleted. The capital gains addition for the later year was corrected to the lower figure actually computed by the assessee, as the higher figure was found to be inadvertent. However, deduction under section 54 was refused because the claim was not substantiated on record. The result was partial relief for the assessee, limited to deletion of telescoped additions and correction of the capital gains figure. en-us Tue, 24 Feb 2026 00:00:00 +0530 Thu, 02 Apr 2026 08:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789019 Proved surplus funds from earlier assessment years were treated as sufficient to explain later unexplained income and vehicle investment, so telescoping relief was allowed and those additions were deleted. The capital gains addition for the later year was corrected to the lower figure actually computed by the assessee, as the higher figure was found to be inadvertent. However, deduction under section 54 was refused because the claim was not substantiated on record. The result was partial relief for the assessee, limited to deletion of telescoped additions and correction of the capital gains figure. Case-Laws Income Tax Tue, 24 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789019