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Section 68 Addition Cannot Be Sustained Without Proper Evaluation: ITAT Mumbai
Case Law Details
- Case Name
- Anirudh Bhimjibhai Dudhat Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Anirudh Bhimjibhai Dudhat Vs ITO (ITAT Mumbai)
Section 68 Addition Cannot Be Sustained Without Proper Evaluation — ITAT Remands Case to CIT(A)
The Mumbai Bench of the Income Tax Appellate Tribunal allowed the assessee’s appeal for AY 2014-15 and set aside the order of the CIT(A) for failure to adjudicate the issue of unsecured loans under section 68 in a reasoned and judicial manner.
The Assessing Officer had made an ex-parte addition of ₹38.67 lakh under section 68 in respect of unsecured loans from five parties, citing non-compliance during assessment proceedings. In appellate proceedi...
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