https://www.taxtmi.com/caselaws?id=472483 Additional receipts from flooring and furnishing work are characterised as business receipts, requiring estimation of taxable profit rather than assessment of the full gross receipt as undisclosed income. Taxable income from those receipts is estimated at 20%. Cash found during search is not fully assessable as unexplained merely because the cash book was not updated on the search date. Explanations based on cash withdrawals, existing cash-in-hand and trading receipts may be furnished during assessment, while a limited addition may be retained for any unexplained component. en-us Mon, 21 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 06:16:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472483 Additional receipts from flooring and furnishing work are characterised as business receipts, requiring estimation of taxable profit rather than assessment of the full gross receipt as undisclosed income. Taxable income from those receipts is estimated at 20%. Cash found during search is not fully assessable as unexplained merely because the cash book was not updated on the search date. Explanations based on cash withdrawals, existing cash-in-hand and trading receipts may be furnished during assessment, while a limited addition may be retained for any unexplained component. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472483