Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]
The mere possession of post-dated cheques was not sufficient to substantiate the AO’s allegations of unexplained investments, particularly in the absence of any supporting documentary evidence.
By Varda Marakkar - On October 6, 2024 2:22 pm - 2 mins read
The Income Tax Appellate Tribunal (ITAT) in Delhi upheld the deletion of an addition made by the Assessing Officer (AO) concerning alleged undisclosed income linked to post-dated cheques (PDCs) recovered during a search. The AO had failed to establish a clear nexus between the cheques and any unaccounted income of the assessee, leading to the…
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