https://www.taxtmi.com/caselaws?id=411462 The ITAT allowed the appeal in favor of the assessee, directing the AO to delete the addition of business income treated as 'income from other sources,' amounting to Rs. 6,49,849. The tribunal found the ld. CIT(A)'s confirmation of the addition unjustified, as it would lead to a double addition, considering the income sources were solely LIC and post office commissions with TDS reflected in Form 26AS. The ITAT emphasized the accurate declaration of income and expenses, ruling in favor of the appellant due to the absence of other income sources and the nature of the business income. en-us Wed, 18 Aug 2021 00:00:00 +0530 Wed, 25 Aug 2021 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411462 The ITAT allowed the appeal in favor of the assessee, directing the AO to delete the addition of business income treated as 'income from other sources,' amounting to Rs. 6,49,849. The tribunal found the ld. CIT(A)'s confirmation of the addition unjustified, as it would lead to a double addition, considering the income sources were solely LIC and post office commissions with TDS reflected in Form 26AS. The ITAT emphasized the accurate declaration of income and expenses, ruling in favor of the appellant due to the absence of other income sources and the nature of the business income. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411462