https://www.taxtmi.com/caselaws?id=769700 ITAT Chandigarh ruled in favor of the assessee regarding addition under Section 69A for cash found during search operations. The Revenue had accepted the cash as belonging to GTIPL before the Settlement Commission, which considered it as undisclosed income in settlement proceedings. The tribunal held that Revenue cannot adopt contradictory stands in different proceedings and that settlement under Section 245D is final and binding. The cash amount of Rs. 7,00,000 cannot be taxed again in the assessee's hands after being settled with GTIPL. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 30 Apr 2025 08:38:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769700 ITAT Chandigarh ruled in favor of the assessee regarding addition under Section 69A for cash found during search operations. The Revenue had accepted the cash as belonging to GTIPL before the Settlement Commission, which considered it as undisclosed income in settlement proceedings. The tribunal held that Revenue cannot adopt contradictory stands in different proceedings and that settlement under Section 245D is final and binding. The cash amount of Rs. 7,00,000 cannot be taxed again in the assessee's hands after being settled with GTIPL. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769700