Only due to mention of PAN, credit or transaction cannot be attributed to assessee

Madhav Kumar Swarup Vs ACIT (ITAT Delhi) Introduction: In the case of Madhav Kumar Swarup vs. ACIT, the attribution of credit card expenditure is a central issue. The Assessing Officer (AO) attributed the expenses to the assessee based on the mention of PAN in the credit card transaction. However, the assessee claimed that the credit card did not belong to him. The appeal challenges the addition of Rs. 4,34,168 made by the AO. Detailed Analysis: The primary contention revolves around the proper attribution of credit card expenses. The AO and CIT(A) relied on the PAN mentioned in the transactio...