Case Law Details
Case Name : Veda Real Estate Corporation Private Limited Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Mumbai
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Veda Real Estate Corporation Private Limited Vs DCIT (ITAT Mumbai)
ITAT Mumbai quashes reassessment—retracted search statements & missing DIN render addition on land cash investment void
ITAT Mumbai quashed the reassessment & deleted ₹4.20 lakh addition on alleged cash investment in “Agarsure land”. The addition was based solely on uncorroborated Excel sheets & retracted search statements of third parties.
Tribunal held that AO failed to conduct independent verification & relied on “dumb documents”.
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