Case Law Details
Case Name : Gauri Kumar Vs DCIT (ITAT Bangalore)
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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