Survey-Based 68 Addition: ITAT Restores Appeal After Ex-Parte NFAC Order

Olympia Fitness Private Limited Vs ITO (ITAT Delhi)

AO made addition of ₹36,70,229 treating undisclosed turnover as income u/s 68 based on statement recorded & impounded material from survey u/s 133A.

CIT(A)/NFAC passed ex-parte order after four hearing dates, three of which involved Assessee’s adjournment requests, & no adjournment on the last date.

Assessee argued before Tribunal that they sought inspection of impounded material forming basis of addition & could not effectively cont

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