https://www.taxtmi.com/caselaws?id=794023 Income surrendered during survey, when accepted and assessed as business income, retains the character of business income for computation under the Act, so regular statutory deductions cannot be denied merely because the income was not earlier recorded. On that basis, partners' remuneration under Section 40(b) was allowable on the survey-declared business income. The denial of the deduction was set aside and relief was granted to the assessee. en-us Wed, 10 Jun 2026 00:00:00 +0530 Sat, 27 Jun 2026 08:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794023 Income surrendered during survey, when accepted and assessed as business income, retains the character of business income for computation under the Act, so regular statutory deductions cannot be denied merely because the income was not earlier recorded. On that basis, partners' remuneration under Section 40(b) was allowable on the survey-declared business income. The denial of the deduction was set aside and relief was granted to the assessee. Case-Laws Income Tax Wed, 10 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794023