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No Proof of On-Money, ₹1.52 Cr Buyer Addition Deleted
Case Law Details
- Case Name
- ITO Vs Deepak Kumar (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Chandigarh
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ITO Vs Deepak Kumar (ITAT Chandigarh)
When Seller’s Addition Falls, Buyer’s 69 Addition Can’t Survive:; Buyer Can’t Be Taxed on Extrapolated Rate: ITAT Chandigarh Deletes ₹1.52 Cr Addition
The Chandigarh Bench “A” of the ITAT, vide order dated 30.12.2025 in ITO, Ludhiana v. Shri Deepak Kumar (Khurana Agro Industries) (ITA No.721/Chd/2025 & CO No.33/Chd/2025, AY 2019-20), dismissed the Revenue’s appeal and allowed the assessee’s cross-objection, thereby deleting the addition of ₹1.52 crore made u/s 69 r.w.s. 115BBE on account of alleged unexplained investment in purchase...
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