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Typo Triggered ₹7.86 Cr Addition: Return Remanded for Re-Examination
Case Law Details
- Case Name
- Rajeev Surana Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Rajeev Surana Vs ITO (ITAT Mumbai)
Typo or Tax Evasion? ITAT Says ‘Clerical Mistake’, Not Cash Credit- When a Balance-Sheet Blunder Became a ₹7.86 Cr Addition- ITAT Mumbai Rescues Assessee from ‘Clerical Error’- Addition u/s 68 for Clerical Mistake in Return Remanded for Re-Examination-
Assessee, an individual engaged in proprietary business & partner in several firms, filed return showing proprietor’s capital at ₹9.18 crores for AY 2018-19 as against ₹1.23 crores in AY 2017-18. AO observed this steep rise & treated ₹7.86 crores as unexplained cash credit u/s 68.
As...
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