This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Assessee Proves Investment Sources, ITAT Delhi Deletes ₹11.18 Lakh Addition
Case Law Details
- Case Name
- Varun Dewan Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Varun Dewan Vs ITO (ITAT Delhi)
ITAT Delhi deletes ₹11.18 Lakh addition – Assessee proves Property Investment Sources with Loan & Business Funds; Delhi ITAT has deleted an addition of ₹11,18,250 made as unexplained investment in property. Tribunal held that where Assessee produces credible evidence of loan transactions & business funds, the addition under the Income Tax Act cannot be sustained.
Assessee had purchased immovable property jointly during FY 2011-12 for ₹39,50,000 plus stamp duty of ₹2,86,500. AO, based on AIR information, reopened the case ...
Author Info
