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Addition U/s. 69B can be made in the absence of documentary evidence in respect of the purchase and sale of Property
Case Law Details
- Case Name
- ITO Vs Sh. Ashok Kumar Kesarwani (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- All ITAT, ITAT Delhi
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ITO Vs. Sh. Ashok Kumar Kesarwani (ITAT Delhi)- Impugned addition in this regard were made by the Assessing Officer as the assessee has failed to provide the necessary documentary evidence with regard to the transactions. We find that Ld. Commissioner of Income Tax (Appeals) has granted relief to the assessee without elaborately discussing the subject and without referring to the cogent material in this regard. In our considered opinion, interest of justice will be served, if the matter is remitted to the file of the Assessing Officer to consider the issue afresh. Assessee is directed to provi...
Usually what happens money passes at the level of CIT Appeals rendering coffin of finance ministry empty for development of Indian economy. Corruption is rampant in income tax department from lower level to CIT appeals level. The value of property increased 10 times while the revenue has decreased by 20K crores.