https://www.taxtmi.com/caselaws?id=468790 A survey surrender was treated as business income where the assessee showed a direct nexus between the surrendered amount and its financing business, and the Revenue produced no material proving an independent unexplained source. The Tribunal held that sections 69 and 69A did not automatically apply on the facts, because the deeming provisions require the amount to remain unexplained in nature or source. As a result, section 115BBE could not be invoked and the additions were deleted. en-us Fri, 15 Sep 2023 00:00:00 +0530 Wed, 27 May 2026 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468790 A survey surrender was treated as business income where the assessee showed a direct nexus between the surrendered amount and its financing business, and the Revenue produced no material proving an independent unexplained source. The Tribunal held that sections 69 and 69A did not automatically apply on the facts, because the deeming provisions require the amount to remain unexplained in nature or source. As a result, section 115BBE could not be invoked and the additions were deleted. Case-Laws Income Tax Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468790