https://www.taxtmi.com/caselaws?id=774814 The ITAT Amritsar allowed the assessee's appeal regarding addition under section 69A for cash seized during requisition under section 132A. The assessee operated a wholesale livestock and mutton trading business with valid certificates from health authorities and trade union. The AO had accepted the assessee's presumptive taxation returns under section 44AD for six consecutive years (2013-14 to 2018-19). Applying the principle of consistency and citing Radha Soami Satsang judgment, the tribunal held that Rs. 7 lakhs seized by police was satisfactorily explained from normal trading activities, as the same business was previously accepted by the department without material change in facts. en-us Mon, 30 Jun 2025 00:00:00 +0530 Tue, 15 Jul 2025 08:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774814 The ITAT Amritsar allowed the assessee's appeal regarding addition under section 69A for cash seized during requisition under section 132A. The assessee operated a wholesale livestock and mutton trading business with valid certificates from health authorities and trade union. The AO had accepted the assessee's presumptive taxation returns under section 44AD for six consecutive years (2013-14 to 2018-19). Applying the principle of consistency and citing Radha Soami Satsang judgment, the tribunal held that Rs. 7 lakhs seized by police was satisfactorily explained from normal trading activities, as the same business was previously accepted by the department without material change in facts. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774814