ITAT Ahmedabad Deletes Section 68 Addition on Alleged Accommodation Sales

Vikramkumar Kishanlal Mehta Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad Deletes Section 68 Addition on Alleged Accommodation Sales; Entire Turnover Cannot Be Taxed When Purchases Are Undisputed The Ahmedabad Bench of the ITAT partly allowed the assessee’s appeal for AY 2018-19, deleting a major addition of ₹4.34 crore made under section 68 read with section 115BBE on account of alleged accommodation entries with Chaniyara Agro Industries Pvt. Ltd. On the issue of reopening, the Tribunal upheld the validity of reassessment under sections 147/148, holding that the Assessing Officer had applied h...