https://www.taxtmi.com/caselaws?id=762285 The Madras HC dismissed writ appeals challenging assessment under Section 153C involving unexplained income taxation under Section 69A. The appellants had simultaneously filed statutory appeals before the Commissioner of Income Tax (Appeals) after instituting writ appeals, which the court deemed impermissible "riding two horses." The court clarified that previous judicial observations regarding mandatory addition of unexplained income under Section 69A should not bind the assessing officer during de novo assessment proceedings, who must consider all aspects afresh in accordance with law. en-us Thu, 21 Nov 2024 00:00:00 +0530 Thu, 28 Nov 2024 07:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762285 The Madras HC dismissed writ appeals challenging assessment under Section 153C involving unexplained income taxation under Section 69A. The appellants had simultaneously filed statutory appeals before the Commissioner of Income Tax (Appeals) after instituting writ appeals, which the court deemed impermissible "riding two horses." The court clarified that previous judicial observations regarding mandatory addition of unexplained income under Section 69A should not bind the assessing officer during de novo assessment proceedings, who must consider all aspects afresh in accordance with law. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762285