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WhatsApp Chats & Estimates Alone Insufficient in Unabated Search Case: ITAT Deletes On-Money Addition

Case Law Details

Case Name
DCIT Vs Shriya Properties (ITAT Bangalore)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2015-16
Advertisement DCIT Vs Shriya Properties (ITAT Bangalore) WhatsApp Chats, Retraction & Pure Estimates Can’t Build a ₹1.22 Crore ‘On-Money’ Addition+ Bangalore ITAT Deletes Additions in Unabated Search Assessment In a significant ruling, the Bangalore ITAT held that no addition can be made in a completed/unabated assessment u/s 153A without incriminating material relatable to the relevant assessment year. The Tribunal upheld deletion of multiple additions made against real estate firm Shriya Properties, Hubballi, including a major ₹1.22 crore alleged on-money addition for AY 201...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 6,030

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