Addition under Income Tax unsustainable as it based on excise department’s finding later decided in favor of assessee

DCIT Vs AGC Reality Pvt. Ltd (ITAT Delhi) ITAT Delhi held that addition in Income Tax proceedings is liable to be set aside as the addition was made on the basis of the finding of Central Excise Department which was eventually decided in favor of the assessee. Facts- Here, the addition has been made based on the information received from the DGCEI conducted search in the office of M/s AGC Realty Pvt. Ltd. (AGC-RPL) on 21.01.2014.The search by the DGCEI was based on the information received which indicated that M/s AGC-RPL was collecting a part of the amount in cash from their customers against...