Criteria for Unexplained Investments u/s 69 of the Income Tax Act

Last updated: 13 November 2021
Quick Summary
This judgement clarifies the criteria for unexplained investments under Section 69 of the Income Tax Act. The case involved a construction company that failed to provide adequate details to the Assessing Officer. While the revenue's appeal was dismissed, the assessee's appeal was allowed for statistical purposes, suggesting a nuanced approach to assessing such investments.

Court :
ITAT Mumbai

Brief :
Aforesaid cross appeals for Assessment Year (AY) 2010-11 arises out of the order of learned Commissioner of Income-Tax (Appeals)-12, Mumbai [CIT(A)] dated 27/03/2019.

Citation :
I.T.A. No.4910/Mum/2019

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