DCIT vs. Payal Khemka
Case No: ITA No.1000/DEL/2024
Court: Income Tax Appellate Tribunal, Delhi Bench
Bench: Delhi Bench
Date: 2/6/2026
Parties Involved
appellantDCIT
respondentPayal Khemka
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 incurr…
Decision in favour of
Assessee
Legal Issues
- 1. Addition of Rs. 17,25,00,000/- as unexplained investment.
Precedents Relied Upon
10 precedents cited in this judgement.