https://www.taxtmi.com/caselaws?id=470398 Cash admitted during a search as additional income may be assessed as business income rather than unexplained money where the taxpayer has only business income and supporting material establishes a business source. The absence of books at the searched residence does not prove that no business books were maintained or that the cash was unexplained. Disclosure under income from other sources to avoid distorting business results does not alter the income's business character. The additional income was therefore assessable at normal rates, not at the special rate applicable to unexplained money. en-us Wed, 19 Mar 2025 00:00:00 +0530 Sat, 25 Jul 2026 15:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470398 Cash admitted during a search as additional income may be assessed as business income rather than unexplained money where the taxpayer has only business income and supporting material establishes a business source. The absence of books at the searched residence does not prove that no business books were maintained or that the cash was unexplained. Disclosure under income from other sources to avoid distorting business results does not alter the income's business character. The additional income was therefore assessable at normal rates, not at the special rate applicable to unexplained money. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470398