Case Law Details
Jaspreet Singh Mauj Vs DCIT/ACIT (ITAT Chandigarh)
The case of Jaspreet Singh Mauj Vs. DCIT/ACIT brings to light the intricacies and interpretations of Section 69 of the Income Tax Act, 1961. This landmark verdict by ITAT Chandigarh becomes a critical reference for income surrendered from unexplained sources, especially when no concrete evidence is found during survey operations.
Background: Dr. Jaspreet Singh Mauj, a practicing Veterinary Doctor, reported his earnings from his profession. Upon a survey conducted at his premises, no incriminating documents or any form of cash were uncovered. Despite the lack of concrete evidence, Dr. Mauj voluntarily surrendered an amount of Rs. 30 lacs, a move to potentially cover building expenses and other unreported incomes.
Assessment and Contention:
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