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2020 (10) TMI 1118 - ITAT PUNEAdditional income declared in survey - Income attribution - income from other sources OR business income - Deduction on interest and remuneration paid to partners - assessee was contended the amount disclosed during the course of survey as additional income is part and parcel of its regular trading receipts and cannot be deemed as unaccounted money u/s. 69 - HELD THAT:- The nature and source of said amount disclosed during the course of survey is established as business income as the assessee does not have any other business activity except business income from construction of housing project. Therefore, we hold the entire disclosed amount are attributable to the business activity and consequently is eligible for all allowances u/s. 40(b) of the Act. - Appeal of assessee is allowed.
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