The ITAT held that the addition of Rs. 2.5 crore to the ...

Unexplained cash credit of Rs. 2.5 crore cannot be added to assessee's income without evidence, rules ITAT.

January 1, 2025

Case Laws Income Tax AT

The ITAT held that the addition of Rs. 2.5 crore to the assessee's income was unsustainable. It was not established that the assessee actually received the said amount. The entire sales were duly recorded, and no evidence proved receipt of the impugned sum. The addition was made without any charging provision under the law. The ITAT ruled in favor of the assessee, setting aside the orders of the AO and CIT(A).

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The ITAT held that the addition of Rs. 2.5 crore to the ...

Unexplained cash credit of Rs. 2.5 crore cannot be added to assessee's income without evidence, rules ITAT.

January 1, 2025

Case Laws Income Tax AT

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