https://www.taxtmi.com/caselaws?id=755683 The HC partially allowed the writ petition challenging income tax additions under Sections 69A and 56(2)(x)(b)(B). Regarding Section 69A (unexplained money), the court held that the provision applies even when books of account are not required to be maintained, evidenced by the phrase "if any" in the section. However, since the petitioner claimed funds came from her husband and could face double taxation if he had declared the income, the court directed reassessment with opportunity to submit additional documents including husband's returns. The addition under Section 56(2)(x)(b)(B) for property undervaluation was upheld, as stamp duty differential exceeded statutory thresholds and the petitioner had adequate opportunity to respond despite incorrect section reference in show cause notice. en-us Tue, 18 Jun 2024 00:00:00 +0530 Mon, 09 Jun 2025 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755683 The HC partially allowed the writ petition challenging income tax additions under Sections 69A and 56(2)(x)(b)(B). Regarding Section 69A (unexplained money), the court held that the provision applies even when books of account are not required to be maintained, evidenced by the phrase "if any" in the section. However, since the petitioner claimed funds came from her husband and could face double taxation if he had declared the income, the court directed reassessment with opportunity to submit additional documents including husband's returns. The addition under Section 56(2)(x)(b)(B) for property undervaluation was upheld, as stamp duty differential exceeded statutory thresholds and the petitioner had adequate opportunity to respond despite incorrect section reference in show cause notice. Case-Laws Income Tax Tue, 18 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755683