Summary
- The ITAT Delhi has dismissed a Revenue appeal regarding an alleged ₹23.50 lakh on-money addition due to lack of evidence for actual payment.
- The tribunal noted that the tax effect was below ₹60 lakh, which influenced its decision.
- This ruling highlights the importance of substantiating claims with concrete evidence in tax matters.
- The outcome may set a precedent for future cases involving similar on-money allegations without adequate proof.
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