https://www.taxtmi.com/caselaws?id=781531 ITAT KOLKATA - AT held that additions in AY 2021-22 constituted double taxation of income already offered and assessed in AY 2020-21, directing the AO to exclude that income from assessment. The tribunal found the cash seized during search to be explained business income, rendering sections 69A and 115BBE inapplicable and requiring tax at normal rates. The AO was directed to adjust the seized cash against the taxpayer's self-tax liability under section 132B, and to compute interest under section 234B after such adjustment from 05.11.2020. Grounds raised were allowed as indicated. en-us Tue, 11 Nov 2025 00:00:00 +0530 Mon, 17 Nov 2025 08:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781531 ITAT KOLKATA - AT held that additions in AY 2021-22 constituted double taxation of income already offered and assessed in AY 2020-21, directing the AO to exclude that income from assessment. The tribunal found the cash seized during search to be explained business income, rendering sections 69A and 115BBE inapplicable and requiring tax at normal rates. The AO was directed to adjust the seized cash against the taxpayer's self-tax liability under section 132B, and to compute interest under section 234B after such adjustment from 05.11.2020. Grounds raised were allowed as indicated. Case-Laws Income Tax Tue, 11 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781531