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Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT
Case Law Details
- Case Name
- Bajaj International Realty Pvt. Ltd. Vs CIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Bajaj International Realty Pvt. Ltd. Vs CIT (ITAT Mumbai)
Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT
Assessee received loan of ₹20.52 lakh from Aneri Fincap Ltd.. AO treated it as unexplained u/s 69A based on investigation linking lender to accommodation entries. CIT(A) upheld addition along with commission u/s 69C & interest disallowance u/s 37.
ITAT held:
Loan was recorded in books → proper section is 68 (not 69A)
However, wrong section does not invalidate addition if substance is clear
Entire enquiry revolved around ident...
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