https://www.taxtmi.com/caselaws?id=467293 Whether a protective addition under the Income-tax Act can be sustained where substantive additions from the same transactions have been completed against ultimate beneficiaries: the tribunal applied the principle that unexplained cash credits are taxable unless the assessee meets the statutory burden but held that confirming a protective Section 68 addition against a conduit assessee would produce double taxation when beneficiaries have already been assessed; only commission income attributable to the conduit was appropriate, and the protective addition was deleted with the revenue appeal dismissed. en-us Fri, 18 Aug 2023 00:00:00 +0530 Fri, 13 Mar 2026 18:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467293 Whether a protective addition under the Income-tax Act can be sustained where substantive additions from the same transactions have been completed against ultimate beneficiaries: the tribunal applied the principle that unexplained cash credits are taxable unless the assessee meets the statutory burden but held that confirming a protective Section 68 addition against a conduit assessee would produce double taxation when beneficiaries have already been assessed; only commission income attributable to the conduit was appropriate, and the protective addition was deleted with the revenue appeal dismissed. Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467293