https://www.taxtmi.com/caselaws?id=778489 ITAT (Chandigarh) allowed the appeal, holding that income surrendered during a survey should be assessed under regular provisions rather than under Sections 69A/69C or 115BBE. The tribunal found no evidence of measured or unexplained investments; the surrendered amount reflected business income voluntarily declared to avoid litigation and the Revenue failed to disprove the stated source. The AO was directed to assess the sum under normal provisions and not treat it as unexplained cash subject to penal consequences. en-us Fri, 17 Jan 2025 00:00:00 +0530 Wed, 17 Sep 2025 13:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778489 ITAT (Chandigarh) allowed the appeal, holding that income surrendered during a survey should be assessed under regular provisions rather than under Sections 69A/69C or 115BBE. The tribunal found no evidence of measured or unexplained investments; the surrendered amount reflected business income voluntarily declared to avoid litigation and the Revenue failed to disprove the stated source. The AO was directed to assess the sum under normal provisions and not treat it as unexplained cash subject to penal consequences. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778489