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On-Money Addition Deleted; Third-Party Pen Drive & Statements Insufficient; Sec 153C Quashed: ITAT Mumbai
Case Law Details
- Case Name
- Pinkydevi Mahendrakumar Jain Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Mumbai
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Pinkydevi Mahendrakumar Jain Vs ACIT (ITAT Mumbai)
On-Money Addition Deleted in Platinum Mall Cases – Third-Party Pen Drive & Statements Not Sufficient – Sec 153C Addition Quashed – ITAT Mumbai
Based on a search in Rubberwala Group, AO invoked sec 153C and added ₹5 lakh alleging cash payment (“on-money”) for purchase of shop in Platinum Mall, relying mainly on a pen drive, excel sheets and statement of a third-party employee. CIT(A) confirmed the addition.
ITAT held that no incriminating material directly linked to the assessee—such as cash receipts, signed documents or corr...
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