This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Presumptive Additions U/s 68 & 69A in Search Cases Quashed
Case Law Details
- Case Name
- Jigna Kundan Bhatt Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Jigna Kundan Bhatt Vs DCIT (ITAT Mumbai)
Explained Loans & Family Jewellery Protected: ITAT Mumbai Deletes Additions u/s 68 & 69A in Search Case
Mumbai ITAT allowed the appeal of Jigna Kundan Bhatt for AY 2020-21 and deleted additions made u/s 68 (unexplained cash credits) and u/s 69A (unexplained jewellery) arising out of a search action u/s 132.
On the issue of unsecured loans of ₹20 lakh, the Tribunal held that the Assessee had fully discharged the onus u/s 68 by furnishing confirmations, PAN, ITR acknowledgements and bank statements of the lenders evidencing transactions th...
Author Info
