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No Capital Gains Addition as Dumb Document Alone cannot Prove On-Money Receipt
Case Law Details
- Case Name
- ACIT Vs Lingaiah Amidyala (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Hyderabad
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ACIT Vs Lingaiah Amidyala (ITAT Hyderabad)
The appeal was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2019-20, challenging the deletion of an addition of ₹3,15,38,320 made towards long-term capital gains based on a seized loose sheet allegedly showing receipt of cash over and above the registered sale consideration for immovable property.
Background of the Case
The assessee, an individual earning salary income from Yashoda Healthcare Services Pvt. Ltd., filed the original return of income declaring ₹64,90,640. A se...
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