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ITAT Partly Deletes ₹13.95 Lakh Addition as Family Income Records Supported Cash Gifts
Case Law Details
- Case Name
- Shrenik Manish Mehta Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Mumbai
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Shrenik Manish Mehta Vs ITO (ITAT Mumbai)
Credit Card Cash Payments Treated Partly Explained Because Wife’s Professional Income Was Proven; ITAT Accepts Partial Family Gift Explanation for Cash Used in Credit Card Payments; ₹13 Lakh Cash Credit Card Payments Trigger Section 69A Addition, ITAT Grants Partial Relief; Affidavits Alone Insufficient but Supporting Financial Records Can Explain Cash Gifts.
The Income Tax Appellate Tribunal (ITAT), Mumbai partly allowed the appeal of the assessee against the addition of Rs. 13,95,020 made under Section 69A of the In...
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