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Borrowed Satisfaction Not Valid for Reopening, ITAT Deletes ₹5.21 Cr Addition
Case Law Details
- Case Name
- DCIT Vs Danaram Jivaram Choudhary (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Ahmedabad
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DCIT Vs Danaram Jivaram Choudhary (ITAT Ahmedabad)
Reopening Based on Borrowed Satisfaction Held Invalid – ₹5.21 Crore Addition Deleted- ITAT Ahmedabad
Ahmedabad ITAT has dismissed the appeal filed by the Revenue in the case, upholding the order of CIT(A) which had quashed reopening & deleted addition of ₹5.21 crore made u/s 69A.
Assessee had filed return of income declaring ₹23.53 lakh. Subsequently, AO received information from DDIT (Inv.), Ahmedabad pursuant to survey u/s 133A in the case of Mudra Finvest (Guj) Ltd. During survey, digital data in laptops &am...
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