Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]

By Aparna. M - On August 13, 2023 1:30 pm - 2 mins read

Income Tax Act shall not be made on basis of ledger account seized from third party - absence of clinching evidence of Cash Payments towards purchase of Flat - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Lucknow bench held that addition under Section 69 of Income Tax Act should not be made on the basis of a ledger account seized from the third party in the absence of clinching evidence of cash payments towards purchase of flat. Assessee, Mahendra Lalka a retired IPS Officer, was…

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