https://www.taxtmi.com/caselaws?id=470360 Additional income declared after a search as current-year business income cannot be taxed as unexplained money at the special rate merely because it was voluntarily offered. Where cash is found during the accounting year, the taxpayer carries on real-estate business, and the record does not establish any source other than that business activity, the income does not fall within the statutory categories of unexplained income. It must therefore be assessed under the normal provisions rather than the special-rate regime. en-us Thu, 19 Oct 2023 00:00:00 +0530 Fri, 24 Jul 2026 11:48:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470360 Additional income declared after a search as current-year business income cannot be taxed as unexplained money at the special rate merely because it was voluntarily offered. Where cash is found during the accounting year, the taxpayer carries on real-estate business, and the record does not establish any source other than that business activity, the income does not fall within the statutory categories of unexplained income. It must therefore be assessed under the normal provisions rather than the special-rate regime. Case-Laws Income Tax Thu, 19 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470360