Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
“Treating Cash Deposits from ‘Business Income’ as ‘Unexplained’ Results in Double Taxation”: ITAT Quashes S.69A Addition under Income Tax
Due DiligenceFinancial ManagementIncome Tax
The ITAT quashed an addition made under Section 69A of the Income Tax Act, ruling that treating cash deposits from business income as unexplained would result in double taxation. The court stressed that cash deposits should not be taxed twice if they originate from declared business income, offering relief to the taxpayer and upholding principles of fair taxation.
