SHRI MUKESH RASIKLAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-9, NOW CIRCLE-4(2),, AHMEDABAD

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ITA 3217/AHD/2015Status: DisposedITAT Ahmedabad31 December 2024AY 1992-93Bench: DR. B.R.R. KUMAR, VICE-PRESIDENT SHRI T.R. SENTHIL KUMAR (Judicial Member)38 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the alleged income tax refund money receipts were taxable as income from other sources. Deductions claimed for subsequent recovery or repayment of this fraudulent income were disallowed.

What were the facts?

The assessee appealed against the CIT(A)'s order confirming additions made by the AO for AY 1992-93 and 1993-94. The additions pertained to alleged income tax refund money receipts treated as taxable income.

What were the issues?

Whether alleged income tax refund money receipts are taxable as income, and whether subsequent recovery of such amounts is deductible.

Which sections of the Income-tax Act were involved?

Section 2(24),Section 57,Section 277

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Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD

Before: DR. B.R.R. KUMAR, VICE-SHRI T.R. SENTHIL KUMAR

For Appellant: Shri Mukesh R. Shah – Party in person
For Respondent: Shri Karun Kant Ojha, CIT-DR
Hearing: 06.11.2024Pronounced: 31.12.2024

आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to :

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