This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 68 Addition Cannot Be Taxed Twice, ITAT Directs Netting Off from Business Receipts
Case Law Details
- Case Name
- Bonthula Hari Venkata Krishna Vs ACIT (ITAT Visakhapatnam)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Visakhapatnam
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Bonthula Hari Venkata Krishna Vs ACIT (ITAT Visakhapatnam)
Recharacterisation Yes, Double Addition No: ITAT Deletes Duplication in Sec 68 Case; Sec 68 Addition to Be Netted Off from Business Income; Tax @ 30%, Not 60%
The Visakhapatnam Bench of the ITAT, in Bonthula Hari Venkata Krishna vs ACIT (ITA No. 581/Viz/2025, AY 2017-18), granted substantial relief to the Assessee by holding that re-characterisation of commission income as unexplained cash credit u/s 68 cannot result in double addition, and further directed that such addition be taxed @ 30% and not 60%.
The Assessee had credited commi...
Author Info
