Manish Pahwa Vs ITO, Ward-45(2), Delhi

Parties Involved

Facts Summary

The case involves the reopening of the assessee's case under Section 147 of the Income Tax Act, 1961, based on information about transactions with M/s Global IT International amounting to Rs.15,00,000/- during AY 2011-12. The assessee had filed an ITR declaring a total income of Rs.15,45,372/- after deductions. During the assessment, additions were made for bogus expenditures, cash deposits, unexplained investments, and unexplained improvements in property. The assessee appealed against these additions, claiming that the investments and expenditures were explained and funded through legitimate sources.…

Legal Issues

• 1. Addition of Rs.26.50 lakh as Unexplained Investment in Property under Section 69 of the Act.
• 2. Addition of Rs.24.15 lakh as Unexplained Improvement Expenditure under Section 69C of the Act.
• 3. Disallowance of Rs.7.50 lakh for Website Services paid to Gopal I.T. International alleged to be bogus expenditure under Section 69C of the Act.
• 4. Addition of Rs.7.50 lakh as Unexplained Cash Deposit under Section 68/69 of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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