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ITAT Mumbai deletes ₹21.99L Sec 69B addition; third-party statement without cross-examination held invalid
Case Law Details
- Case Name
- Bhagawati M Jain Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Bhagawati M Jain Vs ITO (ITAT Mumbai)
ITAT Mumbai deletes ₹21.99 lakh addition U/s 69B for alleged on-money; holds addition based on third-party statement without cross-examination invalid
In this case, the Mumbai ITAT examined an addition of ₹21.99 lakh u/s 69B made towards alleged “on-money” payment for purchase of a shop, based on search findings in the case of a builder group. The AO relied primarily on third-party statements (builder’s partner) and seized material, alleging that the assessee had paid cash over and above the agreement value.
The Tribunal noted th...
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