Suspicion Can’t Replace Proof – ITAT Ahmedabad Upholds Deletion of ₹63.85 Lakh Addition u/s 68
The Tribunal rejected the Revenue’s appeal against deletion of a ₹63.84 lakh addition under Section 68, observing that the assessee had already declared the same transactions as sales in audited ...
ITAT restricted the addition under Section 56(2)(vii)(b) to 50% on a jointly purchased property, preventing double addition as the co-owner was already taxed on the ...
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