Case Law Details
Case Name : Mayank Ratibhai Patel Vs ITO (ITAT Ahmedabad)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Ahmedabad
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Mayank Ratibhai Patel Vs ITO (ITAT Ahmedabad)
ITAT Ahmedabad held that addition towards unexplained cash unsustainable as cash expenses duly incorporated in books of accounts and cash book as well as cash receipts not doubted by the authority.
Facts- AO during the assessment proceedings found that the assessee has incurred certain expenses amounting to Rs. 7,22,272/- on purchase of property such as stamp duty charges and registration charges but failed to explain the source of such expenses. Therefore the AO treated the same as unexplained cash expenses and added to the total income of the ass...
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