Scrap Trader’s ₹6.77 Cr Addition Quashed – ITAT Agra Faults AO for Ignoring Evidence

DCIT Vs Bharat Varshney (ITAT Agra) ITAT Agra Deletes Rs.6.77 Cr Addition – AO Ignored Documentary Evidence- GST, VAT & Loan Entries Explained- Bank Credits Reconciled by Scrap Trader ITAT Agra dismissed Revenue’s appeal & upheld CIT(A)’s order deleting addition of Rs.6,77,45,526/- made u/s 68. Tribunal found that assessee had successfully reconciled bank credits with books of account, & AO’s action of treating difference as unexplained credits was unjustified Assessee, proprietor of M/s G.M.C. Enterprises, engaged in scrap trading, declared income of Rs.31.42 lakh. AO note...