https://www.taxtmi.com/caselaws?id=465165 ITAT allowed the assessee's appeal, holding that s.115BBE could not be invoked in the absence of any specific addition under ss.68, 69A, 69B, 69C or 69D. The assessee had filed a valid original return u/s 139(1) declaring business income, including amounts disclosed during search u/s 132(4), and such income was accepted by the AO without making any unexplained income additions. The Tribunal ruled that mere presumptions cannot justify application of s.115BBE to income already disclosed and accepted as business income, and directed the AO to levy tax at regular rates instead of the higher rate under s.115BBE. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 08 Dec 2025 18:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465165 ITAT allowed the assessee's appeal, holding that s.115BBE could not be invoked in the absence of any specific addition under ss.68, 69A, 69B, 69C or 69D. The assessee had filed a valid original return u/s 139(1) declaring business income, including amounts disclosed during search u/s 132(4), and such income was accepted by the AO without making any unexplained income additions. The Tribunal ruled that mere presumptions cannot justify application of s.115BBE to income already disclosed and accepted as business income, and directed the AO to levy tax at regular rates instead of the higher rate under s.115BBE. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465165