https://www.taxtmi.com/highlights?id=77416 Addition u/s 68/69A/69B and taxed the same u/s 115BBE - Surrendered income in survey - The Tribunal found that the income was directly linked to the assessee's regular business operations, negating the Revenue's claim of it being unexplained investment. The ITAT rectified the issue of double taxation by instructing the Assessing Officer to reassess the income appropriately and allowed the depreciation claim on the building costs, recognizing that the assessee had already paid taxes on the entire surrendered amount. en-us Tue, 14 May 2024 06:53:44 +0530 Tue, 14 May 2024 06:53:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77416 Addition u/s 68/69A/69B and taxed the same u/s 115BBE - Surrendered income in survey - The Tribunal found that the income was directly linked to the assessee's regular business operations, negating the Revenue's claim of it being unexplained investment. The ITAT rectified the issue of double taxation by instructing the Assessing Officer to reassess the income appropriately and allowed the depreciation claim on the building costs, recognizing that the assessee had already paid taxes on the entire surrendered amount. Highlights Income Tax Tue, 14 May 2024 06:53:44 +0530 https://www.taxtmi.com/highlights?id=77416