AO’s failure to conduct Independent Enquiry in respect of deposit in bank account for issuance of Demand Draft in favour of Indian Oil Corporation: ITAT deletes  addition

Indian Oil Corporation - assessing officer- AO - issuance - ITAT - Income Tax Appellate Tribunal - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, while deleting the addition made by the Assessing Officer (AO), held that the AO failed to conduct an independent inquiry in respect of the deposit in the bank account of the assessee for the issuance of a demand draft in favor of Indian Oil Corporation. Rajesh Singh…

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