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Case Law Details

Case Name : ACIT Vs Muffazal Lakdawala (ITAT Mumbai)
Related Assessment Year : 2020-21
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ACIT Vs Muffazal Lakdawala (ITAT Mumbai)

CIT(A)’s Co-terminus Powers Prevail: ITAT Mumbai Upholds Deletion of ₹3.25 Cr Addition u/s 68

Mumbai ITAT  dismissed the Revenue’s appeal and upheld the deletion of ₹3.25 crore added u/s 68 in the case of Muffazal Lakdawala for AY 2020-21

The AO had treated unsecured loans of ₹1.50 crore from

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CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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Section 153C Notice Issued After 01.04.2021 Held Invalid Tax Authorities Cannot Sit in Judgment Over Commercial Share Valuation Section 69A Addition on Seized Cash Notings Quashed Penalty Deleted Where Income Already Disclosed and Taxed Twice Section 271AAA Penalty Deleted Where Search Disclosure Was Proper View More Published Posts

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