https://www.taxtmi.com/caselaws?id=298111 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 3,00,00,000 made under sections 68, 69, and 69C of the Income Tax Act. The Tribunal found that the disclosed amount was considered business receipts and not taxable income until specific conditions were met, as supported by a similar case. The Revenue failed to provide evidence to challenge this finding, resulting in the dismissal of their appeal. The judgment was pronounced in Ahmedabad on March 9, 2016. en-us Wed, 09 Mar 2016 00:00:00 +0530 Tue, 12 Oct 2021 09:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298111 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 3,00,00,000 made under sections 68, 69, and 69C of the Income Tax Act. The Tribunal found that the disclosed amount was considered business receipts and not taxable income until specific conditions were met, as supported by a similar case. The Revenue failed to provide evidence to challenge this finding, resulting in the dismissal of their appeal. The judgment was pronounced in Ahmedabad on March 9, 2016. Case-Laws Income Tax Wed, 09 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298111