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Excel Sheets & Third-Party Statements Alone Cannot Prove Cash Payment: ITAT Mumbai
Case Law Details
- Case Name
- Abdul Razzaq Nadvi Vs DCIT (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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Abdul Razzaq Nadvi Vs DCIT (ITAT Mumbai)
No Addition on “Excel Sheet Theory” Alone – ITAT Mumbai Deletes ₹64 Lakh Alleged On-Money Addition in Rubberwala Group Case!
The Mumbai ITAT deleted an addition of ₹64 lakh made u/s 69 towards alleged cash “on-money” paid for purchase of a commercial property from the Rubberwala Group, holding that the Revenue cannot sustain additions merely on the basis of third-party statements and uncorroborated excel-sheet entries.
The addition arose from a search conducted on the Rubberwala Group, where an employee allegedly admit...
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