ITAT Dismisses Revenue Appeal on 110 Cr Current Liabilities Dispute

DCIT Vs Amtek Transportation Systems Ltd. (ITAT Delhi)

No Remand Report, No Revenue Case-  Ex-Parte Additions Collapse — ITAT Upholds CIT(A)’s Evidence-Based Deletions- — 110 Cr Liability Addition Falls Flat

Revenue challenged deletion of multiple additions made ex-parte by AO relating to difference in sales turnover, trade payables, current liabilities & exceptional charges. AO had framed the assessment without any representation from Assessee & made huge additions solely on the ground that details were not furnished.

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