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Seized Papers Trump Denial: ITAT Upholds Rs. 60 Lakh Additions in Rs. 110 Cr Search Case
Case Law Details
- Case Name
- Syed Mohammed Asad Ullah Hussaini Vs ACIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Hyderabad
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Syed Mohammed Asad Ullah Hussaini Vs ACIT (ITAT Hyderabad)
Hand-Loan & Land Deal Denied — But Seized Papers Sink Assessee: ITAT Confirms Additions- No Evidence, Only Denial: Tribunal Upholds 153C Jurisdiction & Rs.60 Lakhs Additions
Hyderabad Tribunal dealt with additions arising from search in premises of Assessee’s in-laws where documents were seized naming Assessee. AO invoked 153C after tracing PAN & assessed Rs.35 lakhs as unexplained money u/s 69A (1/5th share of Rs.1.75 Cr hand-loan declared by borrower) & Rs.25 lakhs as unexplained investment u/s 69...
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