https://www.taxtmi.com/highlights?id=101175 Survey-disclosed income accepted as business income remains eligible for the regular deductions available under the Act, including partners' remuneration under section 40(b). The HC held that once the appellate authorities had finally treated the surrendered amount as business income, the assessee could not be denied the deduction merely because the excess stock was not explained at the time of survey or because the income had earlier remained unrecorded. The Tribunal was therefore wrong to refuse the deduction, and relief for partners' remuneration had to be allowed on that disclosed business income. en-us Sat, 27 Jun 2026 08:33:51 +0530 Sat, 27 Jun 2026 08:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101175 Survey-disclosed income accepted as business income remains eligible for the regular deductions available under the Act, including partners' remuneration under section 40(b). The HC held that once the appellate authorities had finally treated the surrendered amount as business income, the assessee could not be denied the deduction merely because the excess stock was not explained at the time of survey or because the income had earlier remained unrecorded. The Tribunal was therefore wrong to refuse the deduction, and relief for partners' remuneration had to be allowed on that disclosed business income. Highlights Income Tax Sat, 27 Jun 2026 08:33:51 +0530 https://www.taxtmi.com/highlights?id=101175