https://www.taxtmi.com/caselaws?id=417828 The ITAT Pune Vice President ruled that voluntarily offered additional income in response to a notice under section 148 cannot be treated as unexplained income under sections 68 or 69 of the Income-tax Act, 1961. In two separate appeals, the impugned orders were set aside, and the additions were deleted for both assessees who had declared additional income in response to the notice under section 148. The judgments emphasized the importance of proactive declaration by the assessee and rejected the application of sections 68 and 69 in such cases. en-us Mon, 31 Jan 2022 00:00:00 +0530 Wed, 02 Feb 2022 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417828 The ITAT Pune Vice President ruled that voluntarily offered additional income in response to a notice under section 148 cannot be treated as unexplained income under sections 68 or 69 of the Income-tax Act, 1961. In two separate appeals, the impugned orders were set aside, and the additions were deleted for both assessees who had declared additional income in response to the notice under section 148. The judgments emphasized the importance of proactive declaration by the assessee and rejected the application of sections 68 and 69 in such cases. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417828