This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 69C cannot be invoked if expenditure is duly accounted in books & Source is shown
Case Law Details
- Case Name
- DCIT Vs Shri Prahalad Rai Rathi (ITAT Jodhpur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Jodhpur
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
DCIT Vs Shri Prahalad Rai Rathi (ITAT Jodhpur)
At the outset, we have no agitation in observing that the Ld CIT(A) rightly deleted the impugned additions of Rs. 1.62 crores made by the AO u/s 69C of the Act. It is not disputed that all the transactions have been carried out through banking channels only. Even all the transactions carried out with India Nivesh are through banking channels. The AO has nowhere established that the loss on occasion of share trading was a bogus or sham loss claimed. The attempt of AO to compare the balance amount of 1.62 crore with the share trading loss was an exa...
Author Info
