Case Law Details
Case Name : Bharat Bhushan Jain Vs ITO (ITAT Delhi)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Delhi
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Bharat Bhushan Jain Vs ITO (ITAT Delhi)
The undisputed facts in the present case are that the AO invoked provision of section 69A of the Act on the basis that there was a difference between sale consideration as disclosed by the assessee and the Circle rate as prevalent at that point of time. The AO has considered the difference amount as the undisclosed money received by the assessee. However, Ld.CIT(A) ruled that the addition ought not to have been made u/s 69A of the Act as it does not meet the requirement of law. However
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