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₹8.44 cr Section 69A Addition Deleted Due to Incorrect Bank Account Information
Case Law Details
- Case Name
- ITO Vs Gulmohar Associates (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Chandigarh
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ITO Vs Gulmohar Associates (ITAT Chandigarh)
The Income Tax Appellate Tribunal (ITAT), Chandigarh, decided an appeal filed by the Revenue and a cross-objection filed by the assessee against an order of the CIT(A)/NFAC for Assessment Year 2014–15. The case involved an addition of ₹8,44,23,000 made by the Assessing Officer under Section 69A of the Income-tax Act, 1961 on account of alleged unexplained cash and non-cash credits in the assessee’s bank account.
The assessee, a partnership firm engaged in real estate activities, had not filed its original return of income. Reassessment proceed...
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