AdvertisementPunit Jain Vs DCIT (ITAT Delhi)Delhi ITAT Deletes ₹7.15 Crore Protective Addition After Substantive Assessment in Another Person’s Hands Was Quashed-Protective Addition Cannot Survive IndependentlyThe Delhi ITAT deleted a substantial protective addition of ₹7.15 crore under Section 69A, holding that once the corresponding substantive addition made in the hands of another person had already been deleted by the Tribunal, the protective addition could no longer survive. The AO ultimately made an addition of ₹7.15 crore under Section 69A on a protective basis, besides an addition of ₹2.80 lakh relating to unexplained cash deposits. The ₹7.15 crore addition had been made protectively in the assessee’s hands because the corresponding amount had been assessed substantively in the hands of Nitin Gupta. In Punit Jain’s appeal, the Departmental Representative could not controvert the fact that the substantive addition had already been deleted. The ITAT therefore held that the corresponding protective addition in the assessee’s hands “cannot survive” and directed its deletion.