SC Dismisses SLP as Section 68 Addition Was Based on Tribunal’s Factual Findings

Pavankumar M. Sanghvi Vs ITO (Supreme Court of India) The matter reached the Supreme Court by way of a Special Leave Petition filed by the assessee challenging the Gujarat High Court’s judgment, which had upheld the Income Tax Appellate Tribunal’s order confirming additions under Section 68 of the Income Tax Act, 1961. After hearing the parties, the Supreme Court dismissed the Special Leave Petition. Before the High Court, the assessee had challenged the Tribunal’s order dated 17.05.2017, raising two principal questions. The first questioned whether the Tribunal was justified...