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Addition of mere book entry unsustainable
Case Law Details
- Case Name
- Rajesh Kumar Gupta Vs ACIT (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-2015
- Courts
- All ITAT, ITAT Chandigarh
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Rajesh Kumar Gupta Vs ACIT (ITAT Chandigarh)
ITAT Chandigarh held that addition of mere book entry unsustainable as no amount has been received and no adverse interference with regard to the same has been drawn by the department.
Facts- Assessee alleges that CIT(A) has erred in confirming action of AO by assessing income at Rs. 1,24,53,530/- against the declare total loss of Rs. 54,02,028/-.
Conclusion- After considering the facts and circumstances of the case and going through the evidences furnished, we do not find any justification on the part of the lower authorities for d...
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