https://www.taxtmi.com/caselaws?id=472535 Bank credits arising in a contract business, where the return showing contract receipts was rejected without sound reasons but the business explanation for deposits remained unsubstantiated, require income estimation rather than full taxation as unexplained money under special-rate provisions. Ten per cent of the bank credits is assessable as normal business income; the entire credits cannot be assessed as unexplained money. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 18:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472535 Bank credits arising in a contract business, where the return showing contract receipts was rejected without sound reasons but the business explanation for deposits remained unsubstantiated, require income estimation rather than full taxation as unexplained money under special-rate provisions. Ten per cent of the bank credits is assessable as normal business income; the entire credits cannot be assessed as unexplained money. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472535