https://www.taxtmi.com/caselaws?id=775596 The ITAT Chennai held that the AO erred in making additions under section 69A read with section 115BBE for AY 2021-22 on the seized cash, as the assessee had already declared and paid tax on the same amount as business income for AYs 2019-20 and 2020-21. The AO's action resulted in double taxation, which is impermissible without evidence of concealment or misstatement. Since the department accepted the income in earlier years and no material evidence was produced to dispute the source, invoking the higher tax rate under section 115BBE was unjustified. The appeal was allowed, and the impugned addition was deleted. en-us Tue, 03 Jun 2025 00:00:00 +0530 Mon, 28 Jul 2025 08:27:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775596 The ITAT Chennai held that the AO erred in making additions under section 69A read with section 115BBE for AY 2021-22 on the seized cash, as the assessee had already declared and paid tax on the same amount as business income for AYs 2019-20 and 2020-21. The AO's action resulted in double taxation, which is impermissible without evidence of concealment or misstatement. Since the department accepted the income in earlier years and no material evidence was produced to dispute the source, invoking the higher tax rate under section 115BBE was unjustified. The appeal was allowed, and the impugned addition was deleted. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775596