Matter remanded as higher addition u/s. 68 confirmed by ACIT as compared to addition alleged in notice

Ducati India Private Limited Vs ACIT (ITAT Delhi) ITAT Delhi held that addition made under section 68 of the Income Tax Act is lower as alleged in show cause notice as compared to addition made by ACIT hence matter remanded for fresh consideration. Facts- The assessee is in the wholesale distribution of sale of premium motorcycles manufactured by Ducati, Thailand to the dealers in India and in distribution of spare parts, accessories, clothing and merchandise imported from its Ducati group entities to the dealers in India. During the course of assessment proceeding, the assessee was asked to ...