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Section 69A Addition Deleted Due to Incorrect Assumption of Payment Timing
Case Law Details
- Case Name
- Chandra Swaminathan Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
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Chandra Swaminathan Vs ITO (ITAT Chennai)
The assessee filed an appeal against the order of the Commissioner of Income Tax (Appeals) confirming additions of ₹49,80,330 and ₹10,80,000 as unexplained money under Section 69A for AY 2017–18.
The assessee sold a residential flat on 04.10.2016 for ₹35,50,000, receiving ₹33,00,000 through bank and ₹2,50,000 in cash. She also sold household items and electronic goods for ₹8,09,600 in cash. These amounts, along with ₹1,00,000 received as gifts and ₹20,400 cash balance, totaling ₹11,80,000, were deposited into her bank account. The a...
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