https://www.taxtmi.com/caselaws?id=464300 ITAT AMRITSAR - AT held that the amounts surrendered during survey (excess cash Rs.9,59,000 and sundry debtors Rs.20,00,000) were attributable to the regular bakery and restaurant business and were reflected in returns and audited accounts. Sections 69 and 69A did not apply as no unexplained alternative source was shown, and section 115BBE was consequently inapplicable. The surrendered sums were treated as business income taxable at normal rates and the assessee's appeal was allowed. en-us Mon, 22 Jul 2024 00:00:00 +0530 Thu, 16 Oct 2025 14:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464300 ITAT AMRITSAR - AT held that the amounts surrendered during survey (excess cash Rs.9,59,000 and sundry debtors Rs.20,00,000) were attributable to the regular bakery and restaurant business and were reflected in returns and audited accounts. Sections 69 and 69A did not apply as no unexplained alternative source was shown, and section 115BBE was consequently inapplicable. The surrendered sums were treated as business income taxable at normal rates and the assessee's appeal was allowed. Case-Laws Income Tax Mon, 22 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464300