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Income Tax - Highlights / Catch Notes

Home Highlights November 2020 Year 2020 This

Additions u/s 68 - Any appellate authority cannot reject the ...


Appellate authority can't uphold Section 68 additions without reasoning; CIT(A) failed to address evidence properly. Addition deleted.

November 3, 2020

Case Laws     Income Tax     AT

Additions u/s 68 - Any appellate authority cannot reject the evidences without any discussion or reason. The CIT (A) has not mentioned as to what more evidence were needed to be produced by the assessee to substantiate its contention or what are the material or information to rebut the assessee’s explanation and evidences as discussed above. AO as well as the CIT(A) failed to appreciate or consider the more than sufficient evidences placed on record by the assessee to discharge the onus u/s 68 - Addition made u/s 68 of the Act is hereby deleted. - AT

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