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Case Law Details

Case Name : DCIT Vs Parshwa Associates (ITAT Mumbai)
Appeal Number : I.T.A. No. 2584/Mum/2022
Date of Judgement/Order : 04/05/2023
Related Assessment Year : 2017-18
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DCIT Vs Parshwa Associates (ITAT Mumbai)

Conclusion: Addition under section 69A was not justified as AO had not brought on record any material in support of the addition made by him nor he provided any basis for arriving at the basis, particularly when all the 30 flats had not been sold during the year relevant to AY 2017-18, therefore, there was no basis for arriving at the conclusion that assessee had received any on-money.

Held: Assessee-firm was in the

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