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Protective Addition of ₹14.91 Cr u/s 69 Struck Down Due to Invalid u/s 153C Jurisdiction
Case Law Details
- Case Name
- ACIT Vs Ramasamy Rajasehar (ITAT Chennai)
- 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 Chennai
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ACIT Vs Ramasamy Rajasehar (ITAT Chennai)
153C assessment quashed for want of year-wise satisfaction; protective addition of ₹14.91 Cr u/s 69 deleted as no substantive addition existed in companies’ hands
In this appeal by the Revenue & the Cross-Objection filed by Assessee, the Tribunal examined the legality of a protective addition of ₹14.91 Crores made u/s 69 towards alleged unexplained investments in Vasan Construction Company Pvt Ltd & DS Builders Pvt Ltd based solely on loose sheets seized during search on the Dhanalakshmi Srinivasan Group. The Assessee, a ...
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