Addition Deleted as Gross Receipts Cannot Be Taxed Without Profit Determination: ITAT Amritsar

ITO Vs Secure 1 Services Pvt. Ltd. (ITAT Amritsar) The appeal before the Income Tax Appellate Tribunal (ITAT), Amritsar, was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated 07.02.2025, arising from reassessment proceedings conducted under Sections 147 read with 144 of the Income-tax Act, 1961. The assessee company was engaged in providing security services and had not filed a return of income. Based on information available in the ITBA module and Form 26AS, the Assessing Officer (AO) noted that the company had received substantial amounts as co...