This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Deletes Addition u/s 69 for Cash Withdrawal & Redeposit in Unsuccessful Property Deal
Case Law Details
- Case Name
- Inderjeet Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Inderjeet Vs ITO (ITAT Delhi)
Introduction: The Income Tax Appellate Tribunal (ITAT) in Delhi took up the appeal of Inderjeet against the Income Tax Officer (ITO) on the matter of withdrawals and subsequent redeposits related to a property purchase deal that did not come to fruition. The central point of contention was the addition under section 69 of the Income Tax Act.
Analysis: The crux of the appeal was to determine the legitimacy of a hefty sum, specifically Rs. 2,90,00,000, which was added as unexplained by the lower authorities. The assessee contended that this addition...
