Income Tax Search & Seizure: ITAT Delhi Ruling

Quick Summary

This Income Tax Appellate Tribunal (ITAT) Delhi ruling addresses an appeal by the Revenue concerning a search and seizure operation under Section 132 of the Income Tax Act for the assessment year 2011-12. The Assessing Officer (AO) had made additions to the assessee's income, suspecting undisclosed cash payments ('on money') for property bookings. However, the ITAT found no cogent evidence to substantiate these claims, noting it was the company's first year of operation and that seized documents showed no discrepancies with recorded rates. Consequently, the Revenue's appeal was dismissed.

Court :
ITAT Delhi

Brief :
This appeal filed by the Revenue is directed against the order dated 31.03.2016 of the learned CIT(A)-29, New Delhi, relating to Assessment Year 2011-12.

Citation :
ITA No.3563/DEL/2016

Daily Limit Reached