Addition on Presumptive Income without Considering Loss in Trading in Equity and Commodities: Delhi HC directs Denovo Examination [Read Order]

Addition - Presumptive Income - Considering Loss - Trading in Equity - Commodities-Delhi HC - Denovo Examination-TAXSCAN

The Delhi Bench of High Court has directed denovo examination as addition was made on presumptive income without considering the loss in trading in equity and commodities. This appeal concerns Assessment Year (AY) 2011-12 the appellant/assessee, Dinesh Dahiya had not filed his Return of Income (ROI). Consequently, the appellant/assessee was served with a communication dated…

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