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Cochin ITAT Restores 68 Addition on Capital Account to AO for Fresh Verification
Case Law Details
- Case Name
- Syedali Ebrahim Vs ITO (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-2017
- Courts
- All ITAT, ITAT Cochin
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Syedali Ebrahim Vs ITO (ITAT Cochin)
Cochin ITAT Restores 68 Addition on Capital Account to AO for Fresh Verification- Transfer from Housing Loan to Capital Account Needs Deeper Scrutiny
Assessee challenged the order of CIT(A)/NFAC dated 19.06.2025 which had upheld additions made by AO in scrutiny assessment u/s 143(3). AO assessed income at ₹1,15,31,681 as against returned income of ₹16,04,380, mainly by (a) treating ₹97,27,301 credited in capital account as unexplained u/s 68, & (b) disallowing ₹2,00,000 claimed as loss from self-occupied property.
Assessee submitted that the in...
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