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Section 68 Limited to Current Year Cash Credits: ₹2 Cr Addition Deleted
Case Law Details
- Case Name
- DCIT Vs B. Braun Medical India Pvt Ltd (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs B. Braun Medical India Pvt Ltd (ITAT Mumbai)
The case of DCIT vs. B. Braun Medical India Pvt. Ltd. before the Income Tax Appellate Tribunal (ITAT) Mumbai revolved around an addition of ₹2 crore under Section 68 of the Income Tax Act. The Revenue challenged the deletion of this addition by the Commissioner of Income Tax (Appeals) [CIT(A)], arguing that B. Braun provided contradictory explanations regarding the transaction. The Assessing Officer (AO) had treated the amount as an unexplained liability since no response was received from Santosh Trust, the alleged creditor, to a notice i...
