https://www.taxtmi.com/caselaws?id=777226 ITAT Chandigarh held that the addition under s.40A(3) was unjustified and deleted because the assessee's explanation, supported by books of account, had been disclosed to the Revenue and the books were not rejected under s.145, the entries being below Rs.10,000 per person. Conversely, the addition under s.69C read with s.115BBE was upheld: seized record entries were presumed to belong to the assessee, the explanation failed to rebut that presumption, and the AO's finding was sustained. en-us Wed, 08 Jan 2025 00:00:00 +0530 Wed, 27 Aug 2025 08:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777226 ITAT Chandigarh held that the addition under s.40A(3) was unjustified and deleted because the assessee's explanation, supported by books of account, had been disclosed to the Revenue and the books were not rejected under s.145, the entries being below Rs.10,000 per person. Conversely, the addition under s.69C read with s.115BBE was upheld: seized record entries were presumed to belong to the assessee, the explanation failed to rebut that presumption, and the AO's finding was sustained. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777226