Assessment u/s 153C - Addition u/s 69A - Certain incriminating ...
Income Tax
March 9, 2024
Assessment u/s 153C - Addition u/s 69A - Certain incriminating documents/information contained in the seized material pertained to the assessee, the proprietor found from third party - The ITAT observed that As AO has used his imagination in applying the provision of section 69C for making the impugned addition, the impugned addition made by the Ld. AO in both the AY(s) is not sustainable because it is based on mere suspicion, surmise and conjectures and not on legally sound footing - The Tribunal allowed the assessee's appeals and directed the Assessing Officer to delete the impugned additions in both AYs.
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