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Unexplained Income Reduced from ₹10 Cr to ₹2.22 Cr, Commission to 1% in entry transaction case
Case Law Details
- Case Name
- Parv Bansal Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Parv Bansal Vs DCIT (ITAT Delhi)
ITAT Delhi restricts addition u/s 68 to ₹2.22 crore & cuts commission to 1% – Relief in entry transaction case
A survey u/s 133A was conducted on 11.04.2011 at the business premises of Late Shri Anil Kumar Bansal, a practicing Chartered Accountant. Loose papers & diaries showing cash & cheque entries in coded form were found. AO completed assessment u/s 143(3) making addition of ₹126.59 crore u/s 68 for alleged unexplained cash transactions. In first appeal, CIT(A) upheld the addition, but on second appeal, Tribunal (order dated 25.10.2017 in ...
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