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Delhi HC Deletes Section 68 Addition as Revenue Failed to Link Cash Deposit to Assessee
Case Law Details
- Case Name
- CIT Vs Real Time Marketing Private Limited (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2001-02
- Courts
- All High Courts, Delhi High Court
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CIT Vs Real Time Marketing Private Limited (Delhi High Court)
The Revenue filed an appeal under Section 260A of the Income-tax Act against the order of the Income Tax Appellate Tribunal (ITAT) for Assessment Year 2001-02. The Tribunal had held that there was no material linking the assessee with the sum of ₹22,97,000 deposited in cash in the bank account of M/s. Fair Business Security and Leasing Pvt. Ltd. (FBSL).
During the relevant year, the assessee had received an unsecured loan of ₹25 lakh from M/s. Aishwaray Capital Lease Finance Pvt. Ltd. (ACL). The Assessing Office...
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