https://www.taxtmi.com/caselaws?id=472457 Extrapolation of annual business receipts and profit from survey material covering only three months requires supporting material for the remaining period. Without such material, taxable income must reflect real income rather than presumptive annualisation, making the extrapolation-based addition unsustainable. Bank credits already included in business receipts used to compute business income cannot be separately added, as this duplicates the same income. Business income must therefore be confined to the supported computation without a duplicative bank-credit addition. en-us Tue, 22 Apr 2025 00:00:00 +0530 Tue, 13 Oct 2026 13:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472457 Extrapolation of annual business receipts and profit from survey material covering only three months requires supporting material for the remaining period. Without such material, taxable income must reflect real income rather than presumptive annualisation, making the extrapolation-based addition unsustainable. Bank credits already included in business receipts used to compute business income cannot be separately added, as this duplicates the same income. Business income must therefore be confined to the supported computation without a duplicative bank-credit addition. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472457