https://www.taxtmi.com/caselaws?id=429488 The Appellate Tribunal upheld the decisions of the lower authorities regarding a partnership firm's case involving cash seized during a search and seizure operation. The firm's arguments that the cash was sourced from regular business activities were dismissed, with the Tribunal applying section 115 BBE of the Income Tax Act to tax the reintroduced cash as unexplained money. The Tribunal also ruled that the additional income introduced post-seizure lacked a clear nexus with business income and was subject to taxation under section 115 BBE, dismissing the firm's appeal on both issues. en-us Wed, 26 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429488 The Appellate Tribunal upheld the decisions of the lower authorities regarding a partnership firm's case involving cash seized during a search and seizure operation. The firm's arguments that the cash was sourced from regular business activities were dismissed, with the Tribunal applying section 115 BBE of the Income Tax Act to tax the reintroduced cash as unexplained money. The Tribunal also ruled that the additional income introduced post-seizure lacked a clear nexus with business income and was subject to taxation under section 115 BBE, dismissing the firm's appeal on both issues. Case-Laws Income Tax Wed, 26 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429488