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Retracted Statements Cannot Override Documentary Evidence: Additions Quashed
Case Law Details
- Case Name
- Anand Kumar Chaurasia Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Delhi
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Anand Kumar Chaurasia Vs DCIT (ITAT Delhi)
Diamond Sale Genuine: Delhi ITAT Deletes ₹82.67 Cr u/s 68 & ₹14.88 Lakh u/s 69C; Protective Jewellery Addition Also Dismissed
Assessee filed ROI declaring income of Rs.87.30 crore, including LTCG of Rs.76.18 crore on sale of diamonds. Assessment u/s 143(3) (post-search centralisation) derecognised the LTCG, treated sale consideration of Rs.82,67,44,250 as unexplained cash credit u/s 68, disallowed alleged commission of Rs.14,88,140 u/s 69C, & made a protective addition of Rs.2,05,13,134 towards unexplained jewellery. CIT...
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