https://www.taxtmi.com/caselaws?id=798297 Income surrendered during a survey from excess stock and cash at business premises is assessable as business income at normal rates where it is consistently recorded as business income, has a nexus with regular business stock, and no separate undisclosed asset or non-business source is identified. The enhanced tax rate under Section 115BBE does not apply before its effective assessment year. Disallowance under Section 14A remains sustainable when computed under the statutory mandate, and an ad hoc disallowance of business expenditure may be sustained where reasonable on the facts. en-us Tue, 01 Sep 2026 00:00:00 +0530 Fri, 04 Sep 2026 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798297 Income surrendered during a survey from excess stock and cash at business premises is assessable as business income at normal rates where it is consistently recorded as business income, has a nexus with regular business stock, and no separate undisclosed asset or non-business source is identified. The enhanced tax rate under Section 115BBE does not apply before its effective assessment year. Disallowance under Section 14A remains sustainable when computed under the statutory mandate, and an ad hoc disallowance of business expenditure may be sustained where reasonable on the facts. Case-Laws Income Tax Tue, 01 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798297