Delhi HC upholds Deletion of Income Tax Addition made on investment in Wrist Watches [Read Order]

The Delhi High Court upheld the order ofthe Income Tax Appellate Tribunal [“Tribunal”] which deleted the Income Tax Addition made on investment in Wrist Watches.                                                 The appellant/revenue seeks to assail the order dated 03.05.2023 passed by the Income Tax Appellate Tribunal [“Tribunal”].  A search and seizure operation was conducted under Section 132 of the Income…