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No Returns, No Evidence, Capital Spike Taxed as Unexplained
Case Law Details
- Case Name
- Nitin Naryan Keskar Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Nitin Naryan Keskar Vs ITO (ITAT Pune)
Unexplained Capital Spike Stands: ITAT Pune Upholds ₹1.70 Cr Addition u/s 68
Capital Can’t Grow in a Vacuum: ₹1.70 Cr Addition Sustained- No Returns, No Proof, No Relief: ITAT Backs 68 Addition- Afterthought Ledgers Don’t Save Unexplained Capital
In Nitin Narayan Keskar vs. ITO (ITA No.1000/PUN/2025, AY 2014-15; order dated 29-12-2025), the Pune Bench “A” of the ITAT dismissed the Assessee’s appeal and confirmed addition of ₹1,70,64,449 u/s 68 on account of unexplained increase in proprietor’s capital. The Assessee, a contractor with...
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