https://www.taxtmi.com/caselaws?id=789955 Interest income disclosed in the assessee's computation and included in gross receipts under the presumptive taxation scheme could not be treated as escaped income when the same figure also appeared in the trading and profit and loss accounts. In the absence of rejection of the books of account under the relevant statutory provision, the tax authority had no basis to isolate the interest amount as undisclosed income. On these facts, the addition was unsustainable and the assessee's substantive grounds were accepted. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789955 Interest income disclosed in the assessee's computation and included in gross receipts under the presumptive taxation scheme could not be treated as escaped income when the same figure also appeared in the trading and profit and loss accounts. In the absence of rejection of the books of account under the relevant statutory provision, the tax authority had no basis to isolate the interest amount as undisclosed income. On these facts, the addition was unsustainable and the assessee's substantive grounds were accepted. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789955