https://www.taxtmi.com/caselaws?id=469999 Cash found during vehicle checking was treated as unexplained money where the assessee failed to substantiate the claimed business source with books, receipts, bank records, or other evidence. The stated explanation was found unsupported, so the amount was taxed as unexplained money at the special rate applicable to such income. Consequential interest for delay in filing the return and shortfall in advance tax was also upheld, as no legal basis was shown to adjust the seized cash as tax payment. The document states that the findings on unexplained cash and statutory interest were sustained. en-us Wed, 12 Mar 2025 00:00:00 +0530 Sat, 11 Jul 2026 15:03:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469999 Cash found during vehicle checking was treated as unexplained money where the assessee failed to substantiate the claimed business source with books, receipts, bank records, or other evidence. The stated explanation was found unsupported, so the amount was taxed as unexplained money at the special rate applicable to such income. Consequential interest for delay in filing the return and shortfall in advance tax was also upheld, as no legal basis was shown to adjust the seized cash as tax payment. The document states that the findings on unexplained cash and statutory interest were sustained. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469999