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ITAT Upholds ₹80.42 Lakh Cash Addition; 17 Contributors Story Rejected as Improbable
Case Law Details
- Case Name
- Aabid Ali Khan Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Aabid Ali Khan Vs ACIT (ITAT Delhi)
ITAT Delhi Rejects Story of 17 Contributors—Cash Seizure Addition of ₹80.42 Lakh Upheld as Humanly Improbable
Assessee appealed against the order of CIT(A sustaining an addition of ₹80,42,100 u/s 69A relating to cash seized by the UP Police from two individuals who claimed the money belonged to Assessee. Assessee explained that he had collected ₹80.42 lakh from 17 relatives & friends to jointly purchase a property in Lucknow, & when the deal failed, the money was being transported back to Delhi. Affidavits, bank statements & details of co...
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