Follow Us:
  2. Income Tax
  3. Judiciary

ITAT Deletes Tax Additions Based on Uncorroborated Dumb Diaries & Retracted Statements

Case Law Details

Case Name : Estate Investment Company Pvt. Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2014-15
Courts : All ITAT ITAT Mumbai
Become a Premium member to Download. If you are already a Premium member, Login here to access.

Estate Investment Company Pvt. Ltd. Vs DCIT (ITAT Mumbai)

“Dumb Diaries Can’t Create Tax Liability” – ITAT Deletes Additions Based on Uncorroborated Search Notings & Retracted Statements

Assessee faced search &  survey operations on 07.10.2021. Diaries &  loose sheets maintained by an employee (PKS) were found, containing rough cash entries allegedly related to NOC receipts for release of rights in Eksali lands &  other cash dealings. AO treated diary entries as conclusive evidence & , based on statements of PKS, NKS &  KB

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Tags:

Kindly Refer to Privacy Policy & Complete Terms of Use and Disclaimer.

Author Bio

Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4534
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

My Published Posts

Year-End Provisions Attract TDS – Disallowance u/s 40(a)(ia) Does Not Bar Action u/s 201 – Matter Restored for Limited Verification – ITAT Bangalore Unsecured Loan Addition U/s 68 Deleted; Banking Repayment & Identity Proved, No Need to Prove Source of Source – ITAT Ahmedabad ITAT Ahmedabad Modifies U/s 263; Share Purchase Cost Disallowance U/s 115BBE on Bogus LTCG Restored to CIT(A) Section 11(3) Addition Partly Upheld: ₹1.24 Cr (AY 1994-95) Survives; Earlier Accumulations Nil; Matter Remanded to CIT(A) – ITAT Hyderabad ITAT Hyderabad Quashes U/s 148 Reopening; Third-Party Seized Laptop Data & Non-Compliance with Sec 149(1)(b) Held Fatal View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Latest Posts

View All Posts
Ads Free tax News and Updates

Featured Posts

View All Featured Posts

Popular Posts

Search Post by Date
March 2026
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031