DCIT vs. Payal Khemka
Parties Involved
Facts Summary
The assessee company negotiated for the purchase of a property located at A-32, Westend Colony, Delhi, for Rs. 76 crores. The property was registered on 16.05.2019. During search proceedings, WhatsApp chats and documents were seized indicating a split of Rs. 99 crores as '76/23'. The AO concluded that Rs. 23 crores was paid in cash, leading to an addition under Section 69 r.w.s 115BBE of the Income Tax Act. The assessee argued that Rs. 23 crores was for refurbishment costs, which were not incurred.…
Decision in favour of
Assessee
Legal Issues
- 1. Addition of Rs. 17,25,00,000/- as unexplained investment.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
10 precedents cited in this judgement.
Similar Judgements
DCIT, Central Circle-3, New Delhi vs Udit Jain
Delhi Bench 'G', New Delhi benchAY 2023-24DismissedKrishan Kumar Vs Income Tax Officer
Delhi Bench benchAY 2017-18AllowedRaj Kumar Kothari vs. Assistant Commissioner of Income Tax
Kolkata Bench benchAY 2022-23AllowedAnurag Arora Vs. Deputy Commissioner of Income Tax
Delhi Bench benchAY 2021-22AllowedITA Nos. 1879/KOL/2025 (A.Y. 2018-2019) & ITA Nos. 1880/KOL/2025 (A.Y. 2019-2020)
Kolkata Bench benchAY 2018-2019, 2019-2020DismissedGautam Sehgal vs. DCIT, Central Circle
Delhi bench