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Revenue Appeal Fails Due to Wrong Assessment Year for Cash Investment
Case Law Details
- Case Name
- ACIT Vs Faridabad Presswell Pvt. Ltd (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Faridabad Presswell Pvt. Ltd (ITAT Delhi)
Rule 27 Has Limits: Delhi ITAT Rejects Assessee’s Jurisdictional Defence but Upholds Deletion of ₹8 Crore Addition
The Delhi Bench of the ITAT dismissed the Revenue’s appeal and upheld the deletion of an ₹8 crore addition for alleged unexplained cash investment in the case of Faridabad Presswell Pvt. Ltd. (AY 2015-16). The Tribunal agreed with the CIT(A) that although incriminating material in the form of excel sheets was found during search, the alleged cash payments pertained to FY 2013-14 (AY 2014-15) and not to the ...
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