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Section 69A - Unexplained Money, etc.

Court :
Punjab and Haryana High Court

Brief :
Whether addition made on the basis of loose slips found during search is justified in law?

Citation :
C.I.T. Vs.Ravi Kumar 16/07/2007 [2007] 294 ITR 78

Held by the Honourable Court that, section 69A applies only if assessee is found to be the owner of money or things found and neither possession nor the ownership is proved by slips. Therefore addition is not justified in law.

on 04 November 2008
Published in Income Tax
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