Motor Car Disallowance Deleted as Ownership & Business Use Proved: ITAT Mumbai

Kaishar Interiors Private Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai Partly Allows Appeal: Reopening on Hawala Information Upheld, but Bogus Purchase Addition Remanded; Car Disallowance Deleted The Mumbai Bench of the Income Tax Appellate Tribunal partly allowed the appeal of Kaishar Interiors Pvt. Ltd. for AY 2010–11, dealing with challenges to reassessment proceedings and multiple additions made pursuant to information from the Maharashtra Sales Tax Department regarding alleged hawala purchase transactions. On jurisdiction and reopening, the Tribunal upheld the validity of reassessment unde...