ITAT Rejects ₹14 Crore Protective Income Tax Addition Against Lalit Modi [Read Order]

The Protective Income Tax was attributed to Lalit Modi by the Revenue regarding rerouted investments in Ananda Heritage Hotels P. Ltd
By Avinash Kurungot - On November 22, 2024 6:05 pm - 2 mins read
ITAT - Income Tax - ITAT Delhi - Income Tax Appellate Tribunal - Income Tax Addition - TAXSCAN

The Income Tax Appellate Tribunal ( ITAT ), Delhi recently rejected the applicability of Protective Addition of Rs.14 Crore attributed towards Income Tax of arraigned business personality, Lalit Kumar Modi, alleging unexplained investments in Ananda Heritage Hotels P. Ltd. The ITAT rendered the decision while jointly disposing of two Income Tax Appeals – one filed…

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