https://www.taxtmi.com/caselaws?id=471625 Peak-credit computation of seized finance-business notebooks treats undisclosed receipts and outgoings as business income where no separate non-business source is established. Section 69 deeming treatment for unexplained investment does not apply to the peak amount in those circumstances. Interest, commission and miscellaneous receipts already included in the peak-credit working cannot be separately added while retaining that computation, because this would tax the same income twice. Where excluding those receipts eliminates the peak credit, undisclosed finance-business receipts remain taxable only through the sustained peak-credit business-income computation. en-us Wed, 09 Apr 2025 00:00:00 +0530 Thu, 10 Sep 2026 20:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471625 Peak-credit computation of seized finance-business notebooks treats undisclosed receipts and outgoings as business income where no separate non-business source is established. Section 69 deeming treatment for unexplained investment does not apply to the peak amount in those circumstances. Interest, commission and miscellaneous receipts already included in the peak-credit working cannot be separately added while retaining that computation, because this would tax the same income twice. Where excluding those receipts eliminates the peak credit, undisclosed finance-business receipts remain taxable only through the sustained peak-credit business-income computation. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471625