Case Law Details
Case Name : Pinkydevi Mahendrakumar Jain Vs ACIT (ITAT Mumbai)
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.
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