https://www.taxtmi.com/caselaws?id=769116 The ITAT VISAKHAPATNAM upheld the addition of unexplained cash under section 69A, finding the assessee failed to provide documentary evidence for the opening cash balance of Rs. 32,25,000 as on 07.11.2016. The assessee's retraction of statements regarding cash availability during demonetization was not accepted. However, the tribunal allowed the assessee's appeal regarding the tax rate under section 115BBE, following precedent that the amended 60% tax rate applies only to transactions from 01.04.2017 onwards, not prior transactions which attract 30% tax rate. en-us Fri, 07 Mar 2025 00:00:00 +0530 Sat, 19 Apr 2025 08:32:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769116 The ITAT VISAKHAPATNAM upheld the addition of unexplained cash under section 69A, finding the assessee failed to provide documentary evidence for the opening cash balance of Rs. 32,25,000 as on 07.11.2016. The assessee's retraction of statements regarding cash availability during demonetization was not accepted. However, the tribunal allowed the assessee's appeal regarding the tax rate under section 115BBE, following precedent that the amended 60% tax rate applies only to transactions from 01.04.2017 onwards, not prior transactions which attract 30% tax rate. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769116