Dividend Income Cannot Be Treated as Unexplained Cash Credit: ITAT Delhi

C.R. Investments Vs ACIT (ITAT Delhi) Dividend Income Cannot Be Treated as Unexplained Cash Credit: ITAT Delhi Deletes Section 68 / 115BBE Addition The Delhi Bench of the ITAT allowed the assessee’s appeal for AY 2018-19 and deleted the addition of ₹40.53 lakh made under section 68 read with section 115BBE, holding that exempt dividend income cannot be recharacterised as unexplained cash credit in the absence of any incriminating nexus. The Tribunal noted that both the Assessing Officer and the CIT(A) had treated the assessee’s dividend income—duly disclosed and claimed as exempt—as ...