https://www.taxtmi.com/caselaws?id=763237 ITAT Delhi ruled in favor of the assessee regarding cash recovered from two lockers. The assessee claimed the entire amount as business income rather than unexplained investment under section 69A. The tribunal found that while cash from one locker was recorded in books of accounts, cash from the other was not. However, since the assessee's explanation regarding the source of income was not disputed by authorities, the tribunal held that section 115BBE taxation was not applicable. The amounts were treated as business income instead of unexplained investment under section 69A. en-us Fri, 13 Dec 2024 00:00:00 +0530 Mon, 16 Dec 2024 08:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763237 ITAT Delhi ruled in favor of the assessee regarding cash recovered from two lockers. The assessee claimed the entire amount as business income rather than unexplained investment under section 69A. The tribunal found that while cash from one locker was recorded in books of accounts, cash from the other was not. However, since the assessee's explanation regarding the source of income was not disputed by authorities, the tribunal held that section 115BBE taxation was not applicable. The amounts were treated as business income instead of unexplained investment under section 69A. Case-Laws Income Tax Fri, 13 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763237