Shruti Lal Vs. DCIT

Parties Involved

Facts Summary

A search and seizure operation under section 132 of the Income Tax Act, 1961 was carried out in Sh. Kshitij Lal Group cases. A search warrant of authorization under section 132 of the Act was issued in the name of the Assessee on 03/04/2019. The Assessee had furnished her return of income under section 139 of the Act declaring income of Rs. 6,77,886/-, which was processed under section 143(1) of the Act. An assessment order under section 143(3) of the Act was passed by making an addition of Rs. 12,93,307/- under section 69A of the Act on account of unaccounted money. Aggrieved by the assessment order dated 27/09/2021, the Assessee preferred an Appeal before the CIT(A). The Ld. CIT(A) vide order dated 20/06/2023, dismissed the Appeal filed by the Assessee. Aggrieved by the order dated 20/06/2023 passed by the Ld. CIT(A), the Assessee preferred the present Appeal.…

Legal Issues

• 1. Whether the addition of Rs. 12,93,307/- under section 69A of the Act as unexplained jewellery is justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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