https://www.taxtmi.com/caselaws?id=471095 Derivative-trading ledger credits were assessable only to the established profit element, not on a peak-credit basis. Reconciled STCSH metal, cash and premium entries, foreign-account KYC declarations, cheque transactions, RAK Bank remittances, dairy-farm receipts, excess bullion stock and advance notings lacked evidence of unaccounted income or would have caused double taxation; the related additions were deleted. Interest expenditure remained allowable because diversion of borrowed funds for non-business purposes was not proved. Notional rental income and premature unit-linked insurance policy surrender proceeds remained taxable. Unexplained non-settlement credits in the Standard Bank cash ledger remained taxable under Section 69A because their source and claimed third-party ownership were unsupported. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 20 Aug 2026 19:01:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471095 Derivative-trading ledger credits were assessable only to the established profit element, not on a peak-credit basis. Reconciled STCSH metal, cash and premium entries, foreign-account KYC declarations, cheque transactions, RAK Bank remittances, dairy-farm receipts, excess bullion stock and advance notings lacked evidence of unaccounted income or would have caused double taxation; the related additions were deleted. Interest expenditure remained allowable because diversion of borrowed funds for non-business purposes was not proved. Notional rental income and premature unit-linked insurance policy surrender proceeds remained taxable. Unexplained non-settlement credits in the Standard Bank cash ledger remained taxable under Section 69A because their source and claimed third-party ownership were unsupported. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471095