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ITAT Ahmedabad Deletes On-Money Additions; Loose Papers Insufficient
Case Law Details
- Case Name
- SKZ Developers LLP Vs ACIT/DCIT Cent. (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Ahmedabad
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SKZ Developers LLP Vs ACIT/DCIT Cent. (ITAT Ahmedabad)
ITAT Ahmedabad Deletes ‘On-Money’ Additions in Real Estate Projects: Loose Sheets & Offer Rates Cannot Replace Evidence
The Ahmedabad Bench of the ITAT allowed the assessee’s appeals and dismissed the Revenue’s appeals for AYs 2021-22 and 2022-23, holding that additions on account of alleged “on-money” receipts in real estate projects Privilon and Paarijat Eclate were unsustainable. The Tribunal found that the Assessing Officer’s case rested entirely on loose excel sheets, internal cost workings, broker d...
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