Addition towards income from undisclosed source sustained due to deliberate failure to produce all books: ITAT Delhi

Shivam Leasing Pvt Ltd Vs ITO (ITAT Delhi)

ITAT Delhi held that addition under section 69A on account of income from undisclosed source sustained in assessee deliberately failed to produce all the books of accounts and no material evidence furnished by the assessee.

Facts- The assessee filed its return of income on 29.09.2008 which was processed u/s 143(1) of the Income-tax Act, 1961. Subsequently, on the basis of information that assessee company had introduced unaccounted money in its books of accounts during F.Y. 2007-08 relevant to A.Y. 2008-09, the asse

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