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On-Money Jewellery Additions Fail Due to Denial of Cross-Examination
Case Law Details
- Case Name
- Priyanka Sandeep Runwal Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Priyanka Sandeep Runwal Vs DCIT (ITAT Mumbai)
Firestar / Nirav Modi ‘On-Money’ Theory Fails Again: ITAT Mumbai Deletes Cash-Jewellery Additions for Want of Cross-Examination & Corroboration
ITAT Mumbai (C Bench) in Priyanka Sandeep Runwal vs DCIT, Central Circle-4(1) (ITA Nos. 6524, 6522 & 6523/Mum/2024; AYs 2014-15, 2015-16 & 2016-17; order dated 23.12.2025) has allowed all three appeals, deleting additions made as unexplained expenditure on alleged cash (“on-money”) purchase of jewellery from the Nirav Modi / Firestar Group.
The reassessments u/s 147 were...
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