Case Law Details
Case Name : ITO Vs Dahyalal Gagjibhai Jiwani (ITAT Mumbai)
Related Assessment Year : 2022-2023
Courts :
All ITAT ITAT Mumbai
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ITO Vs Dahyalal Gagjibhai Jiwani (ITAT Mumbai)
Section 68 Addition Deleted: ITAT Mumbai Upholds CIT(A)’s Finding that Capital Increase Was Only ₹1.95 Crore and Not Unexplained ₹10.63 Crore
The Mumbai ITAT dismissed the Revenue’s appeal and affirmed the deletion of an addition of ₹10.63 crore made under Section 68 for AY 2022-23. The Assessing Officer had compared the assessee’s total personal capital (₹27.05 crore) with his capital in the partnership firm (₹1
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