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Cash Found During Survey Explained – Gifts & Receipts Accepted; Additions Deleted: ITAT Bangalore
Case Law Details
- Case Name
- Gauri Kumar Vs DCIT (ITAT Bangalore)
- 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 Bangalore
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Gauri Kumar Vs DCIT (ITAT Bangalore)
Cash found during survey explained – Gifts from relatives, professional receipts & firm withdrawals accepted; additions deleted – ITAT Bangalore
In Ms. Gauri Kumari & Shri Ashish Agarwal vs DCIT (A.Y. 2020-21), cash of ₹78 lakh was seized following a police complaint, out of which the assessees admitted ownership of ₹23 lakh and ₹25 lakh respectively, claiming sources as gifts from relatives, professional receipts and withdrawals from partnership firms. The AO treated the amounts as unexplained money, and CIT(A) partly confirmed additions....
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