This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Wrong ITR Figures Alone Can’t Trigger Section 68 Addition: ITAT Delhi
Case Law Details
- Case Name
- Priya Jain Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Priya Jain Vs ACIT (ITAT Delhi)
Wrong ITR Figures ≠ Unexplained Cash Credit: Delhi ITAT Deletes ₹16.36 Cr Addition After AO’s Own Remand Verification
The Delhi ITAT in Priya Jain vs ACIT deleted an addition of ₹16.36 crore made u/s 68, holding that mere correction of wrongly reported capital figures in the ITR cannot automatically lead to an unexplained cash credit addition when the assessee has substantiated the reconciliation with evidence.
The assessee had originally shown opening capital of ₹3.67 crore in the earlier year, whereas the capital reflected in the cur...
Author Info
