Merely on basis of Statement of Director of Vendor Company, Addition u/s 69B can’t be made ignoring facts of Assessee Company: ITAT [Read Order]

By Sunayana Dhal - On November 18, 2023 7:00 am - 2 mins read
Merely on basis of Statement - Director of Vendor Company - Vendor - Vendor Company - taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that merely on the basis of the statement of the director of the vendor company an addition under Section 69B of the Income Tax Act, 1961 cannot be made by ignoring the facts of the assessee company. The appellant is a Private Limited Company,…

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