This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No section 68 addition on account of unaccounted cash receipts without corroborative evidences
Case Law Details
- Case Name
- V.V. Titanium Pigments Pvt Ltd Vs ACIT (ITAT Chennai)
- 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 Chennai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
V.V. Titanium Pigments Pvt Ltd Vs ACIT (ITAT Chennai)
Conclusion: Addition under section 68 on account of unaccounted cash receipts was not justified as AO was merely hearsay evidence carrying no evidentiary value and at the time of seizure, the excel sheets were not authenticated either by assessee company nor by the witnesses or by an authorized officer.
Held: AO made addition for AYs 2017-18 to 2019-20 for Rs.6.10 Crores which was based on seized notebooks and dairies as maintained by Manager of M/s V.V. Minerals. Assessee assailed the same on the ground the entries in the excel sheet did n...
Author Info
