https://www.taxtmi.com/caselaws?id=401498 The Tribunal concluded that the addition of Rs. 81,00,000 under section 69A for alleged on-money receipts was not justified as it resulted in double taxation. The receipt had already been included in the director's cash flow statement and taxed accordingly. Therefore, the addition in the hands of the assessee was deleted, and the appeal was allowed. Other contentions raised by the assessee were not adjudicated upon as the primary issue was resolved in its favor. en-us Thu, 03 Dec 2020 00:00:00 +0530 Wed, 09 Dec 2020 11:21:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401498 The Tribunal concluded that the addition of Rs. 81,00,000 under section 69A for alleged on-money receipts was not justified as it resulted in double taxation. The receipt had already been included in the director's cash flow statement and taxed accordingly. Therefore, the addition in the hands of the assessee was deleted, and the appeal was allowed. Other contentions raised by the assessee were not adjudicated upon as the primary issue was resolved in its favor. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401498