Kalavati Mahendra Jain vs. ITO, Ward-4, Panvel

Parties Involved

Facts Summary

Kalavati Mahendra Jain, the appellant, filed an appeal against the order of the Commissioner of Income Tax (Appeals) for the Assessment Year 2022-23. The appellant contested the addition of Rs. 14,46,682/- as unexplained cash credit under section 68 of the Income Tax Act, 1961. The appellant claimed that she had not received any cash on the sale of her plot of land at Mauje Kiwale, Tal. Haveli, Dist. Pune. The Assessing Officer had made the addition based on documents found during a search in the case of Khilari Group, which did not mention the appellant. The appellant submitted documents including a sale deed, bank statement, and an affidavit from Shrichand Aswani, denying any cash payments. The Tribunal found no documentary evidence to prove that the appellant had received cash and allowed the appeal.…

Legal Issues

• 1. Whether the addition of Rs. 14,46,682/- as unexplained cash credit is justified?
• 2. Whether the appellant received cash on the sale of her plot of land?

Judgment Outcome

Decided in favour of Assessee.

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