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Protective Additions u/s 68 & 69C Invalid Once Substantive Addition Sustained: ITAT Mumbai
Case Law Details
- Case Name
- DCIT Vs Mangalkalash Trading P. Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Mangalkalash Trading P. Ltd. (ITAT Mumbai)
Protective Addition u/s 68 & 69C in Hands of Accommodation Entry Provider Not Sustainable Once Substantive Additions Are Confirmed – ITAT Mumbai
The ITAT Mumbai dismissed the Revenue’s appeal for AY 2012-13 & upheld deletion of protective additions u/s 68 & 69C made in the hands of the assessee company, which was alleged to be an accommodation entry provider.
The Tribunal noted that pursuant to a search u/s 132, the AO made protective addition of ₹5.90 crore u/s 68 towards alleged unexplained investment &...
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