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Addition quashed as Form 2 under Income Declaration Scheme not served: ITAT Chennai
Case Law Details
- TaxGuru Citation
- 2026 taxguru.in 1535
- Case Name
- Jagathesh Vs ACIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
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Jagathesh Vs ACIT (ITAT Chennai)
ITAT Chennai held that section 197(b) of the Finance Act, 2016 cannot be invoked since Form 2 as contemplated under Income Declaration Scheme not served. Accordingly, addition u/s. 69A made in assessment u/s. 147 r.w.s. 144 liable to be deleted.
Facts- A survey u/s.133A had been carried out in the assessee’s case on 23.05.2018. The assessee in his statement recorded during the course of survey had failed to give any credit worthy details regarding the source for the acquisition of the property and had admitted that the said properties were a...
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