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Section 69 Addition Fails – RTGS Proof Defeats Excel-Based Cash Allegation
Case Law Details
- Case Name
- Mamta Patel Vs ACIT (ITAT Raipur)
- 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 Raipur
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Mamta Patel Vs ACIT (ITAT Raipur)
Third-Party Search, Third-Party Excel – ITAT Protects Genuine Buyer- No Cash, Only Bank Trail: Section 69 Addition Struck Down
Tribunal examined addition of Rs.5,07,690/- u/s 69 alleged as unexplained investment on the basis of an excel sheet seized during search on Wallfort Group. AO treated the amount as cash paid by Assessee for flat E-802 in Wallfort Heights & CIT(A)/NFAC upheld the view.
Assessee produced before Tribunal complete bank trail: RTGS of Rs.5,07,748.42 made on 22.07.2019, matching exactly with the figure in the seize...
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