https://www.taxtmi.com/caselaws?id=778398 Unexplained receipts taxed under section 68 could not be subjected to a second addition merely because the same funds were later invested. The Tribunal noted that once the Assessing Officer had already treated the receipts as income from unexplained sources, any subsequent investment made out of those receipts was only an application of the same income. The Commissioner (Appeals) therefore correctly sustained the addition for the unexplained receipts but deleted the further addition relating to their deployment in investments, since the same amount could not be assessed twice. The deletion of the second addition was upheld and the Revenue's challenge failed. en-us Thu, 16 Jan 2025 00:00:00 +0530 Tue, 16 Sep 2025 09:02:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778398 Unexplained receipts taxed under section 68 could not be subjected to a second addition merely because the same funds were later invested. The Tribunal noted that once the Assessing Officer had already treated the receipts as income from unexplained sources, any subsequent investment made out of those receipts was only an application of the same income. The Commissioner (Appeals) therefore correctly sustained the addition for the unexplained receipts but deleted the further addition relating to their deployment in investments, since the same amount could not be assessed twice. The deletion of the second addition was upheld and the Revenue's challenge failed. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778398