Addition of Unexplained Income based on Information from SEBI not valid in Absence of Opportunity to produce Evidence: ITAT [Read Order]

By Yogitha S. Yogesh - On December 31, 2022 11:31 am - 2 mins read

Addition of Unexplained Income - Unexplained Income - SEBI - Absence of Opportunity - Evidence - ITAT - Income Tax - Income - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of Unexplained income based on information from SEBI is not valid in absence of an opportunity to produce evidence. Lilaben Bhagabhai Patel, the Assessee challenged the order dated 12.04.2019 passed by the CIT(A)-1, Ahmedabad for the Assessment Year 2010-11. The…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics