No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]

No Addition - AIR information - Profit - booked - offered to Tax-ITAT-TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no addition shall be made on the basis of Annual Information Return (AIR) information when the profit has already been booked by another and has also been offered to tax. The assessee is a resident corporate entity stated to be engaged in the…

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