Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]

Failure to Substantiate - Claim of Investment - Deduction - ITAT upholds Income Tax Addition - Income Tax Addition - ITAT - Investment - taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that appellant failed to substantiate source of claim of investment in the said property for the purpose of Section 54F of the Income Tax Act and hence upheld the addition of Rs. 15,03,000/- made by the Assessing Officer (AO). The assessee Mr. Shekhar Bharti is…

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