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Addition Under 115BBE Struck Down for Procedural Lapses
Case Law Details
- Case Name
- Amarjot Singh Sohi Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Chandigarh
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Amarjot Singh Sohi Vs ITO (ITAT Chandigarh)
On-Money Addition Fails Without Proof: Third-Party Excel Sheet Not Enough
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of ₹8 lakh made under section 69 read with section 115BBE, holding that the Revenue failed to prove any actual cash payment (“on-money”) by the assessee for purchase of a shop.
The reassessment was initiated solely on the basis of information arising from a search on the seller group (Omaxe Ltd.), wherein an Excel sheet recovered from a third party allegedly reflected ca...
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