AO cannot take the position of Businessman to Replace his Strategy Irrationally: ITAT deletes Additions [Read Order]

AO cannot take the position of Businessman - AO - Businessman - ITAT deletes Additions - ITAT - Additions - Taxscan

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the Assessing Officer without any justification or appealing basis in light of the Principal Tax Jurisprudence that the Assessing Officer cannot sit in the armchair of the businessmen irrationally substituting his strategy. The bench of Pradeep Kumar Kedia and Chandra…

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