https://www.taxtmi.com/caselaws?id=313058 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 2,27,86,693/- as undisclosed investments for A.Y. 2009-10. The ITAT allowed telescoping of the negative cash balance against disclosed income, preventing double taxation. This decision underscores the principle that assets acquired from undisclosed income should be considered holistically for tax assessment, ensuring fair treatment of undisclosed investments and income used in business operations. en-us Mon, 12 Feb 2018 00:00:00 +0530 Thu, 21 Mar 2024 19:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313058 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 2,27,86,693/- as undisclosed investments for A.Y. 2009-10. The ITAT allowed telescoping of the negative cash balance against disclosed income, preventing double taxation. This decision underscores the principle that assets acquired from undisclosed income should be considered holistically for tax assessment, ensuring fair treatment of undisclosed investments and income used in business operations. Case-Laws Income Tax Mon, 12 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313058