Ad-Hoc Addition Deleted for Lack of Defects: ITAT Rejects ₹50 Lakh Estimate

Bhikshu Margam Vs DCIT (ITAT Pune)

Adhoc Additions Have No Legs: ITAT Deletes ₹50 Lakh Disallowance – When Evidence Exists, Suspicion Cannot Replace Verification: No Defects, No Disallowance: Tribunal Rebukes AO for Arbitrary ₹50 Lakh Estimate

Assessee, a firm engaged in manufacturing & trading of marble & stones, declared income of ₹54.20 lakh. AO noticed local, import & high-seas purchases of over ₹39 crore. AO held that names/addresses of local suppliers were not fully furnished & books/bills/vouchers were allegedly not produ

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