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No section 68 addition in absence of actual receipt of money & for accounting mistake
Case Law Details
- Case Name
- Mehboob Amirali Kamdar Vs ITO (ITAT Mumbai)
- 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 Mumbai
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Mehboob Amirali Kamdar Vs ITO (ITAT Mumbai)
Introduction: In the recent case of Mehboob Amirali Kamdar vs. ITO, the Income Tax Appellate Tribunal (ITAT) in Mumbai rendered an important decision. The case revolved around a disputed addition under Section 68 of the Income Tax Act, concerning unexplained cash credits.
The primary issue at hand was a discrepancy in the amount shown as received from M/s Kukreja Constructions by the taxpayer, Mr. Mehboob Amirali Kamdar. The Assessing Officer had made an addition of Rs. 40 lakhs, believing there was a mismatch between the sum receiv...
