ITAT deletes Section 69C Addition as allegations not substantiated with clear evidence

Advertisement DCIT Vs Triton Hotels and Resorts Private Limited (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai, adjudicated appeals in the case of DCIT Vs Triton Hotels and Resorts Pvt. Ltd. The matter primarily pertained to unexplained expenditures assessed under Section 69C of the Income Tax Act for the assessment year (AY) 2020-21. Cross-appeals were filed by the assessee and the Revenue against the order of the CIT(A)-52, Mumbai, which partly confirmed and partly deleted additions made by the Assessing Officer (AO). These appeals were heard together for multiple assessment y...