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PAN Misuse Allegation – ITAT Remands Matter to Verify Police Report; Relief Possible if Misuse Proven
Case Law Details
- Case Name
- Mitesh Suresh Shah Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Mumbai
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Mitesh Suresh Shah Vs ITO (ITAT Mumbai)
PAN Misuse Allegation – ITAT Remands Matter to Verify Police Report; Relief Possible if Misuse Proven
Assessee challenged additions of ₹71.05 lakh u/s 68 and ₹98,500 u/s 69 arising from alleged share transactions, contending that his PAN was misused by another person (namesake from Nagpur) and that he had never undertaken such transactions.
The matter had earlier reached the Bombay High Court, which noted that in AY 2015–16, the AO himself accepted (based on police enquiry) that PAN was misused and no addition was made. Consi...
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