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Addition u/s 68 merely based on suspicion unsustainable

Case Law Details

Case Name : Darshan K Vakharia Mumbai Vs ITO (ITAT Mumbai)
Appeal Number : I.T.A. No. 1540/Mum/2023
Date of Judgement/Order : 28/07/2023
Related Assessment Year : 2013-13
Courts : All ITAT ITAT Mumbai
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Darshan K Vakharia Mumbai Vs ITO (ITAT Mumbai)

ITAT Mumbai held that addition under section 68 of the Income Tax Act towards unexplained expenditure merely on the basis of suspicion without any other support is unsustainable in law.

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Author Bio

Name: POONAM GANDHI
Qualification: CA in Practice
Company: N/A
Location: AHMEDABAD, Gujarat, India
Member Since: 14 Feb 2019 | Total Posts: 5252
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