Addition Deleted as AO Found No Evidence Linking Assessee to Alleged cash transactions

M.K. Shelters Vs ITO (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has set aside additions to the income of M.K. Shelters, a partnership firm, for Assessment Years (AYs) 2009-10, 2011-12, 2012-13, and 2015-16. The Tribunal’s decision, issued on May 23, 2025, primarily hinged on the lack of concrete evidence linking the firm to alleged cash transactions and significant procedural irregularities by the Assessing Officer (AO). The case, M.K. Shelters Vs. ITO, involved appeals by the assessee against orders from the Commissioner of Income Tax (Appeals) / National Faceless...