https://www.taxtmi.com/caselaws?id=760177 The ITAT Jaipur allowed the assessee's appeal against protective additions made under sections 69, 69C, and 68. The AO had made protective additions on 31.12.2019 while the firm's settlement application filed on 27.03.2019 was pending. Subsequently, the Income Tax Settlement Commission order dated 03.12.2020 incorporated all entries for which protective additions were made. Since the revenue did not dispute the settlement commission's order or the firm's acceptance of additions, the tribunal held that protective additions in the assessee's hands could not be sustained when the same amounts were already considered at the firm level where the assessee was a partner. en-us Thu, 10 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 09:24:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760177 The ITAT Jaipur allowed the assessee's appeal against protective additions made under sections 69, 69C, and 68. The AO had made protective additions on 31.12.2019 while the firm's settlement application filed on 27.03.2019 was pending. Subsequently, the Income Tax Settlement Commission order dated 03.12.2020 incorporated all entries for which protective additions were made. Since the revenue did not dispute the settlement commission's order or the firm's acceptance of additions, the tribunal held that protective additions in the assessee's hands could not be sustained when the same amounts were already considered at the firm level where the assessee was a partner. Case-Laws Income Tax Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760177