ITAT Orders Fresh Inquiry After Assessee Fails to Produce Proof Against ₹1 Cr Section 68 Addition

Frozen Iron and Steel Private Limited Vs DCIT (ITAT Delhi) ₹1 Crore s.68 Addition Remanded—Assessee Denies Receipt from Alleged Entry Provider; Given One Final Opportunity Assessee challenged addition of ₹1,00,00,000 u/s 68, made on the basis of Investigation Wing Kolkata report alleging that Cyprus Multitrade Pvt Ltd (a shell company managed by Praveen Aggarwal group) routed accommodation entries to Assessee. AO issued notices u/s 142(1), 133(6) & SCN dated 06.12.2019, but Assessee did not respond during assessment. AO therefore treated the ₹1 crore as unexplained cash credit. CIT...