Case Law Details
Case Name : DCIT Vs Balmukund Sponge And Iron Private Limited (ITAT Kolkata)
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Kolkata
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DCIT Vs Balmukund Sponge And Iron Private Limited (ITAT Kolkata)
In a consolidated batch of appeals concerning Balmukund Sponge & Iron Pvt Ltd, Balmukund Cement & Roofings Pvt Ltd & Balmukund Lease Fin Pvt Ltd for AYs 2015-16 to 2023-24, Tribunal examined additions based on seized loose papers, WhatsApp chats, alleged bogus purchases & unsecured loans. AO invoked s.69A on rough jottings found in document BSIPL/01 treating ₹2.87 cr as unexplained money. CIT(A) had re-characterised them as suppressed sales & applied GP of 7.84%. Tribunal held that seized paper itself mentio...
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