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ITAT Raps CIT(A) for Mechanical Deletion of Rs. 2.05 Cr Addition Without Verification
Case Law Details
- Case Name
- ITO Vs Ellora Hitech Infra Venture Private Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
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ITO Vs Ellora Hitech Infra Venture Private Limited (ITAT Mumbai)
No Remand Report No Excuse – Tribunal Criticizes CIT(A)’s Mechanical Deletion- CIT(A) Has Co-terminus Powers – Rs. 2.05 Cr Addition Deleted Without Verification- Must Independently Verify Evidence, Rules ITAT- CIT(A) Cannot Grant Relief Without Verification – ITAT Restores Cash Investment Case
Assessee had filed return declaring income of Rs. 19.45 lakh. During assessment proceedings, it was noticed that Assessee had purchased land worth Rs. 10.28 crore, out of which Rs. 2.57 crore was paid in cash. As Assessee failed to ...
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