https://www.taxtmi.com/caselaws?id=801250 Section 69C requires proof that expenditure was actually incurred before its source may be questioned; diary notings alone do not establish off-book spending without independent corroboration. Section 69A does not apply where a recorded cash balance arises from reversal of previously booked labour expenditure and corresponding recognition of income, rather than an undisclosed cash receipt. Interest on fixed deposits maintained as margin or security for bank guarantees connected with eligible infrastructure contracts may form part of profits qualifying for deduction under Section 80IA(4), where the deposits have a direct business nexus and are not investments of surplus funds. en-us Wed, 30 Sep 2026 00:00:00 +0530 Sat, 17 Oct 2026 05:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801250 Section 69C requires proof that expenditure was actually incurred before its source may be questioned; diary notings alone do not establish off-book spending without independent corroboration. Section 69A does not apply where a recorded cash balance arises from reversal of previously booked labour expenditure and corresponding recognition of income, rather than an undisclosed cash receipt. Interest on fixed deposits maintained as margin or security for bank guarantees connected with eligible infrastructure contracts may form part of profits qualifying for deduction under Section 80IA(4), where the deposits have a direct business nexus and are not investments of surplus funds. Case-Laws Income Tax Wed, 30 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801250