The ITAT found that the authorities did not properly use search evidence, and there was no solid proof linking the firm to the alleged fake transactions.
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) held that the addition of Rs. 2.02 crore as accommodation entries was unsustainable due to lack of primary proof. Vertool Consultancy LLP,appellant-assessee,challenged the reopening of assessment for AY 2017–18, initiated based on information received from the Investigation Wing, Ahmedabad. As per the Assessing Officer(AO)’s…
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