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₹1 Crore Addition Based on Statement Without Evidence: ITAT Restores to CIT(A)
Case Law Details
- Case Name
- Ramdev Buildcon Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Ahmedabad
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Ramdev Buildcon Vs ITO (ITAT Ahmedabad)
The Ahmedabad Income Tax Appellate Tribunal (ITAT) has directed a fresh review of an assessment order, focusing on an addition of Rs. 1 crore based solely on a partner’s statement recorded during a survey. The case involved Ramdev Buildcon, a partnership firm, whose partner admitted to additional undisclosed profits during a survey conducted in 2016. However, this admitted income was not reflected in the firm’s income tax return for the assessment year 2016-17, leading the Assessing Officer (AO) to add the Rs. 1 crore to the firm’s inco...
