Documentation of Files without any Explanation to adverse observation in respect of Bank Statements: ITAT restores addition u/s 68 [Read Order]

Documentation of Files - Bank Statements - ITAT restores addition -ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal held that the assessee grossly failed in discharging the initial burden, thus relevant provisions applied by the Assessing Officer (AO) are not applicable. The assessee, a company who during the year under consideration received certain credits was asked to submit the details of the afore mentioned…

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