RAJU MOHAN GURNANI,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

ITA 2092/MUM/2021Status: DisposedITAT Mumbai31 July 2023AY 2016-1760 pages
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What did the Tribunal hold?

The Tribunal held that the additions based on loose papers could not be sustained as there was no evidence to prove they belonged to the assessee, were in her handwriting, or were found in her possession. However, the addition for deemed rental income from house property was upheld.

What were the facts?

During a search in the case of the assessee's husband and daughters, loose papers containing cash transactions were found. The Assessing Officer (AO) made additions to the assessee's income based on these papers, alleging they were in her handwriting and found in her possession.

What were the issues?

Whether additions based on loose papers found during a search in a third party's premises are valid against the assessee, and whether deemed rental income from house property is taxable.

Which sections of the Income-tax Act were involved?

Section 153C,Section 143(3),Section 22,Section 23(4)(b)

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Income Tax Appellate Tribunal, ‘D‘ BENCH

Before: SHRI AMIT SHUKLA & MS. PADMAVATHY S

For Appellant: Shri Pradip Kapasi, AR
For Respondent: Smt. Riddhi Mishra, CIT DR
Hearing: 04/05/2023Pronounced: 31/07/2023

PER AMIT SHUKLA (J.M): The aforesaid appeals have been filed by the assessee against separate impugned orders of even date, 26/10/2021 passed u/s.153C r.w.s. 143(3) for the A.Y.2014-15; and A.Y.2015-16 and u/s.143(3) for the A.Y.2016-17. 2. The issues involved in all the assessment years are identical arising out of similar facts and therefore, the same were heard together and are being disposed of by way of this consolidated order.

3.

In various grounds of appeal assessee has challenged following additions which was based on certain loose papers found in the course of search in the case of Shri Mohan Thakurda

The order continues below.

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