Protective addition collapses once substantive tax paid by real owner: ITAT Rajkot

Divyes Vinodrai Patadiya Vs ACIT (ITAT Rajkot) Protective addition collapses once substantive tax paid by real owner; ITAT Rajkot deletes gold addition u/s 69A Rajkot   Tribunal allowed Assessee’s appeal & deleted protective addition of ₹10,68,864 u/s 69A made on account of gold seized during courier interception. Tribunal noted that Assessee was merely a job-worker & ownership of seized gold stood clearly identified. In respect of gold sent by M/s Global Jewels India Ltd, substantive addition had already been made in sender’s hands, leading CIT(A) to rightly delete correspondi...