Addition in hands of employee unsustainable as cash was handled on behalf of employer

Mukesh Gupta Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that addition with regard to unexplained payment unsustainable in the hands of the employee as employee merely handled the cash on behalf of the employer.

Facts- During the course of the search, cash to the tune of ₹4,66,73,200/- was found. in the premises of the assessee, Shri Mukesh Gupta. When questioned about the source of the said cash, the assessee stated that the cash lying in his residence was given to him by Shri Premchand Ashok Kamble (Mr

Please become a Premium member. If you are already a Premium member, login here to access the full content.