Takshila Distributers Pvt. Ltd. vs ACIT

Authority: ITAT Tribunal/Court: Delhi Date: 2018-02-01 AY: 2005-06 Section: 133A, 68, 148 Acts: Income Tax Act 1961 Result: Assessee Citation: 218Taxpundit38 Justices: BHAVNESH SAINI JM & L.P. SAHU AM Appeal No: ITA.No.4351/Del./2015
Whether the addition of Rs. 1,01,00,000 as unexplained cash credit under Section 68 of the Income Tax Act, 1961, was justified when the assessee provided documentary evidence of the creditor's identity, creditworthiness, and transaction genuineness? --- Held: No. | Whether the addition of Rs. 10,20,897 as income from house property was justified based on the annual letting value of a jointly owned property? --- Held: No.

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