This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT deletes section 69B addition for painting found during search
Case Law Details
- Case Name
- Nirmal Kumar Minda Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-2019
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Nirmal Kumar Minda Vs ACIT (ITAT Delhi)
The ground No.2 relates to the addition of Rs.37.50 lacs u/s. 69B of the Act in respect of 6 paintings found at the residence of the assessee. The underlying facts in the impugned issue are that 6 paintings were found at the time of search which were got valued by the department from two different valuers. The assessee has also obtained valuation report independently valuation.
The AO adopted the valuation made by the yellow flute whereas the CIT(A) directed the AO to adopt the valuation of Delhi Art Gallery against this decision of the ...
