Alleged Bogus Transport Charges Rejected for Want Proof

ITO Vs Manilal Bhamjibhai Shah (ITAT Ahmedabad) Alleged Bogus Freight Receipts from Electrotherm: ITAT Upholds Deletion of ₹3.52 Crore Addition u/s 69 The Ahmedabad Bench of the ITAT dismissed the Revenue’s appeal challenging deletion of an addition of ₹3.52 crore made under section 69 on account of alleged undisclosed freight income. The assessee, engaged in transport business, was alleged to be a beneficiary of bogus transportation charges booked by M/s Electrotherm India Ltd., based on information from the Investigation Wing. The Tribunal noted that the Revenue failed to bring any mat...