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Partner Confession Alone Not Enough for Cash Credit Additions: ITAT Bangalore

Case Law Details

Case Name : Emirates Hindustan Builders & Developers Vs ACIT (ITAT Bangalore)
Related Assessment Year : 2017-18
Courts : All ITAT ITAT Bangalore
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Emirates Hindustan Builders & Developers Vs ACIT (ITAT Bangalore) Partner Confession Can’t Seal the Case- Sworn Statement Alone Not Enough – Admissions Need Corroboration – ITAT Bangalore Remands Builders’ Cash Credit Additions These batch appeals arose from search & seizure assessments framed u/s 153C/143(3) against Emirates Hindustan Builders & Developers, Tabesco Hindustan Infra Developers Pvt. Ltd., and MKH Infrastructure, all Kasargod-based developers. The disputes centered on additions made u/s 68 for unexplained cash contributions and unsecured loans, primarily b...
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Author Bio

Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 5443
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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