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Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
The ITAT set aside the addition under section 69A read with section 115BBE relating to undisclosed investment of Rs. 50 lakhs. The AO failed to produce any material evidence or documentation proving that the assessee owned the cash or had made the alleged payment to the third party for the purchase of immovable property. The denial by the alleged payee remained unchallenged and the mere WhatsApp communication with a third party, not involved in the original transaction, was held insufficient to establish ownership or cash transaction. Consequently, invocation of section 69A was unwarranted for the assessment year 2022-23. The Tribunal deleted the addition and allowed the assessee's appeal.
The ITAT set aside the addition under section 69A read with section 115BBE relating to undisclosed investment of Rs. 50 lakhs. The AO failed to produce any material evidence or documentation proving that the assessee owned the cash or had made the alleged payment to the third party for the purchase of immovable property. The denial by the alleged payee remained unchallenged and the mere WhatsApp communication with a third party, not involved in the original transaction, was held insufficient to establish ownership or cash transaction. Consequently, invocation of section 69A was unwarranted for the assessment year 2022-23. The Tribunal deleted the addition and allowed the assessee's appeal.
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