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LTCG Addition Quashed as Revenue Relied Solely on Uncorroborated Third-Party Diary Entries
Case Law Details
- Case Name
- Ramesh Rajpal Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1994-95
- Courts
- All ITAT, ITAT Delhi
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Ramesh Rajpal Vs DCIT (ITAT Delhi)
ITAT Deletes LTCG Addition Because Seized Diary Was Held Unreliable in Related Cases; ITAT Allows Appeal After Finding No Fresh Inquiry Conducted Following High Court Remand; ITAT Rejects Addition on Alleged Asola Land Sale Due to Lack of Evidentiary Support; Addition Based on Third-Party Seized Material Set Aside Following Final Relief to Co-Seller.
The appeal concerned an addition of Rs. 39,32,850 made to the income of Ramesh Rajpal (HUF) for Assessment Year 1994-95 on account of alleged long-term capital gains arising from the sale of land at Village Asola...
