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Third-Party ERP Entries Alone Cannot Justify Section 69 Addition: ITAT Deletes Jewellery Purchase Addition
Case Law Details
- Case Name
- Jiten Basantilal Jain Vs ITO (ITAT Ahmedabad)
- 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 Ahmedabad
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Jiten Basantilal Jain Vs ITO (ITAT Ahmedabad)
Third-Party ERP Entries Alone Cannot Justify Section 69 Addition: ITAT Deletes Jewellery Purchase Addition
The Ahmedabad ITAT deleted addition of ₹16.05 lakh made under Section 69 against a jewellery trader, holding that uncorroborated entries found in third-party ERP software during search on another group cannot, by themselves, establish unexplained investments or purchases.
The assessee, proprietor of M/s Mahalaxmi Jewellers, had filed return under presumptive taxation scheme of Section 44AD. During search proceedings on the T...
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