Company’s book, Including Manual Cash book, deemed Non-Incriminating u/s 153A of Income Tax Act: ITAT deletes S.69 Addition [Read Order]

No substantive addition is required to be made in the hands of Company and as the cash inwards and outwards are found to be from known sources and existing books

By Aiswarya Krishnadas - On May 30, 2024 7:32 pm - 2 mins read

ITAT - income tax - company books - Manual cash books - section 69 - income tax act - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the Section 69 addition, ruling that the company’s books, including the manual cash book, were deemed non-incriminating under Section 153A of the Income Tax Act, 1961. A search and seizure operation under Section 132(1) of the Income Tax Act, 1961 was conducted…

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