https://www.taxtmi.com/caselaws?id=772034 ITAT Ahmedabad ruled on two issues in this tax assessment case. First, regarding unexplained cash credit under Section 68, the tribunal held that when sale proceeds were supported by book results and primary evidence not disproved by the AO, and already assessed as business revenue, re-taxing the same as unexplained income would constitute double taxation. This was decided in favor of the assessee. Second, concerning salary expense disallowance under Section 37, the tribunal upheld the disallowance of Rs. 3,60,000 each paid to three employees, finding the lump-sum year-end payments without TDS deduction suspicious, with no evidence of employees declaring this income in their returns. en-us Thu, 29 May 2025 00:00:00 +0530 Tue, 03 Jun 2025 08:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772034 ITAT Ahmedabad ruled on two issues in this tax assessment case. First, regarding unexplained cash credit under Section 68, the tribunal held that when sale proceeds were supported by book results and primary evidence not disproved by the AO, and already assessed as business revenue, re-taxing the same as unexplained income would constitute double taxation. This was decided in favor of the assessee. Second, concerning salary expense disallowance under Section 37, the tribunal upheld the disallowance of Rs. 3,60,000 each paid to three employees, finding the lump-sum year-end payments without TDS deduction suspicious, with no evidence of employees declaring this income in their returns. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772034