ITA No.950/Del/2020 & CO-37/Del/2021
Case No: ITA No.950/Del/2020 & CO-37/Del/2021
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI “G” BENCH: NEW DELHI
Date: 2/12/2025
Parties Involved
appellantDCIT, Central Circle-26, New Delhi
respondentSham Lal, 3046, Sec-28D, Chandigarh PAN-AAPPL6203R
Facts Summary
The assessee, Sham Lal, filed his return of income for the assessment year 2016-17 declaring an income of INR 2,86,880/-. His case was selected for limited scrutiny, and the assessment was completed with a total income of INR 13,73,51,880/- by making various additions. The Assessing Officer (AO) made an addition of INR 63,00,000/- under section 69A of the Income Tax Act, 1961, treating it as unexplained money. The assessee sold a property for INR 63,00,000/- which was acquired for INR 84,00,000/…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition of INR 63,00,000/- on account of unexplained money u/s 69A of the Income Tax Act, 1961.
- 2. Deletion of addition of INR 12,90,00,000/- on account of unexplained investment u/s 69A of the Income Tax Act, 1961.
1 more legal issue analysed in this judgement.