Mere Claims of Cheque Discounting Insufficient to Explain Bank Credits: ITAT Surat

Amizara Construction Pvt. Ltd. Vs ITO (ITAT Surat) The Surat Bench of the Income Tax Appellate Tribunal (ITAT) disposed of two appeals filed by the assessee for Assessment Years (AYs) 2010–11 and 2012–13, arising from separate appellate orders passed under section 250 of the Income-tax Act, 1961 by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (CIT(A)). With the consent of both parties, the appeals were clubbed and heard together, with ITA No. 1206/SRT/2024 for AY 2010–11 treated as the lead case. For AY 2010–11, the assessee company had not filed its return...