https://www.taxtmi.com/caselaws?id=800579 Search material revealing unaccounted business receipts supported reassessment notices and the related sanctions under Sections 149 and 151. Approval under Section 148B was not mechanical where the record reflected consideration of the draft assessment order, relevant material and correspondence. Profit from unaccounted receipts requires a reasonable, case-specific estimate; a 10% rate applies after credit for additional income already offered, while Income Declaration Scheme disclosures cannot be fully telescoped against such receipts. Section 79A bars set-off of business losses against undisclosed income arising from a search. en-us Wed, 23 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800579 Search material revealing unaccounted business receipts supported reassessment notices and the related sanctions under Sections 149 and 151. Approval under Section 148B was not mechanical where the record reflected consideration of the draft assessment order, relevant material and correspondence. Profit from unaccounted receipts requires a reasonable, case-specific estimate; a 10% rate applies after credit for additional income already offered, while Income Declaration Scheme disclosures cannot be fully telescoped against such receipts. Section 79A bars set-off of business losses against undisclosed income arising from a search. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800579