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ITAT Mumbai: On-Money Addition Crumbles Without Evidence – Platinum Mall Case
Case Law Details
- Case Name
- Meena Lalit Jain Vs ACIT (ITAT Mumbai)
- 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 Mumbai
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Meena Lalit Jain Vs ACIT (ITAT Mumbai)
ITAT Mumbai: “On-Money” Addition Crumbles Without Evidence – Platinum Mall Case
In a significant ruling, the ITAT Mumbai deleted additions made under Section 69 across three assessment years, where the Assessing Officer alleged cash (“on-money”) payments for purchase of shops in the Platinum Mall project. The entire addition was based on third-party statements and an excel sheet seized from another party during a search.
The Tribunal held that no incriminating material was found from the assessee, and the addition was built solely on third-party...
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