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Cheque Payments & Confirmations Not Enough; Gujarat HC Confirms Section 68 Addition
Case Law Details
- Case Name
- Pavankumarm Sanghvi Vs ITO (Gujarat High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
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Pavankumarm Sanghvi Vs ITO (Gujarat High Court)
The assessee filed a tax appeal before the Gujarat High Court challenging the order of the Income Tax Appellate Tribunal dated 17.05.2017. The appeal raised two questions: whether the Tribunal was justified in confirming the addition of ₹20 lakh as unexplained cash credit under Section 68 of the Income Tax Act despite confirmations from the lenders, and whether the Tribunal was justified in confirming the disallowance of ₹3,66,041 towards interest paid on the unsecured loans treated as unexplained cash credits. The additions had been made by ...
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