Addition of Amount of Security Deposit to Taxable Income of Jindal Construction can’t be deleted Merely Relying on Certificate of Non-Completion of Construction: ITAT [Read Order]

Addition of Amount of Security Deposit to Taxable Income of Jindal Construction can't be deleted Merely Relying on - Certificate of Non-Completion of Construction - ITAT - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that mere non completion certificate by the Developer isnot an enough ground to delete addition of scrutiny deposit. The case of the assesseeJindal Construction was reopened on the basis that the assessee had not filed any return of income, though it entered into transaction…

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