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Section 69C Addition Set Aside-ITAT Orders Probe Where Third-Party Credit Card Use Alleged
Case Law Details
- Case Name
- Satyanarayana Murthy Kancharla Vs ITO (ITAT Hyderabad)
- 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 Hyderabad
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Satyanarayana Murthy Kancharla Vs ITO (ITAT Hyderabad)
The case involved an addition of ₹75.29 lakh u/s 69C on account of credit card payments, which the AO treated as unexplained expenditure.
The assessee contended:
Credit cards were handed over to a third party (Mr. G. Nageswararao) for use on commission basis
Transactions did not belong to him
Due to dispute, the said person had absconded, making it impossible to obtain confirmation
FIR was filed, evidencing dispute (noted on record)
The lower authorities rejected the claim due to:
No written agreement or confirmation
...
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