This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Bangalore Upholds Disallowance of ₹1.37 Cr “Consultancy” to Swamiji; Reassessment Valid
Case Law Details
- Case Name
- Davanam Jewelers Private Limited Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Davanam Jewelers Private Limited Vs ACIT (ITAT Bangalore)
The Bangalore ITAT dismissed the appeal of M/s. Davanam Jewelers Pvt. Ltd. and upheld the reassessment proceedings as well as major additions made by the Assessing Officer. The case arose from information flagged during post-search proceedings indicating payment of ₹1.37 crore as consultancy charges to a Swamiji.
The Tribunal held that reopening under Section 147 was valid, as there was tangible material from post-search enquiries suggesting possible escapement of income. It rejected the assessee’s argument that pro...
Author Info
