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ITAT Deletes Section 69 Additions Over Unsupported On-Money Claims
Case Law Details
- Case Name
- Bhavana Vikram Jain Vs ACIT (ITAT Mumbai)
- 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 Mumbai
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Bhavana Vikram Jain Vs ACIT (ITAT Mumbai)
On-Money Allegation Based Only on Third-Party Pen Drive & Statement Can’t Survive: ITAT Deletes Section 69 Additions
Additions u/s 69 were made alleging cash on-money payments for purchase of a shop in “Platinum Mall”, based solely on statements of Rubberwala Group employee Shri Imran Ansari & Excel data found in a pen drive seized from his possession during search on Rubberwala Group.
Tribunal noted that the shop transaction itself took place only in FY 2018-19 relevant to AY 2019-20, hence additions in AYs 2017-18 & 2018-19 were fac...
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