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No Section 69 Addition for Cash Payment based on Seized Third-Party Ledger Alone
Case Law Details
- Case Name
- Mahendra Lalka Vs DCIT (ITAT Lucknow)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Lucknow
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Mahendra Lalka Vs DCIT (ITAT Lucknow)
Introduction: In the case of Mahendra Lalka Vs DCIT (ITAT Lucknow), the tribunal provided a significant ruling on Section 69 of the Income Tax Act. This case centered around the addition of ₹17,00,000 under Section 69, a provision concerning unexplained investment, based on a ledger account seized from a third party.
Analysis:
Background: The appellant, Mahendra Lalka, challenged the addition of ₹17,00,000 under Section 69 of the Income Tax Act. The addition was made based on a ledger account seized from a third party, showing evidence of cash payment...
