Section 68 Addition without granting cross-examination opportunity untenable: ITAT Nagpur

Advertisement DCIT Vs N. Kumar Construction Co. Pvt. Ltd. (ITAT Nagpur) ITAT Nagpur held that addition under section 68 of the Income Tax Act without providing an opportunity to assessee to cross-examine the person whose statement was relied upon is untenable in law and hence liable to be deleted. Facts- The assessee is engaged in the business of construction and for the year under consideration filed its return of income on 11/10/2010 The case was re–opened and notice u/s. 148 of the Income Tax Act, 1961 was issued. The case of the assessee was re–opened on the basis of information rec...