Addition Based on Non-Appearance of Company Directors on the basis of unproven Identity of Subscriber not Sustainable: ITAT [Read Order]

Addition Based on Non-Appearance - Addition - Company Directors - unproven Identity of Subscriber - unproven Identity - Sustainable - ITAT - Income Tax - taxscan

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition based on non-production of company directors on the ground that identity of the subscribers were not proved would not be sustainable. The appellant Atlantic Dealers Pvt. Ltd was a Private Limited Company engaged in the business of investing in shares and…

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