https://www.taxtmi.com/caselaws?id=776335 The ITAT Ahmedabad upheld the CIT(A)'s deletion of the addition under section 68 read with section 115BBE relating to unexplained cash credits from seized cash. The AO had made a substantive addition of the seized cash in another party's hands and included the amount in the assessee's bank account as part of a larger addition. The CIT(A) found that allowing the addition again in the assessee's hands would result in double addition. The tribunal agreed with the CIT(A), noting the revenue failed to rebut this finding. Consequently, the appeal by the revenue was dismissed for lack of merit. en-us Mon, 06 Jan 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776335 The ITAT Ahmedabad upheld the CIT(A)'s deletion of the addition under section 68 read with section 115BBE relating to unexplained cash credits from seized cash. The AO had made a substantive addition of the seized cash in another party's hands and included the amount in the assessee's bank account as part of a larger addition. The CIT(A) found that allowing the addition again in the assessee's hands would result in double addition. The tribunal agreed with the CIT(A), noting the revenue failed to rebut this finding. Consequently, the appeal by the revenue was dismissed for lack of merit. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776335