Addition Invalid Solely for Non-Compliance with Section 133(6) Notice: ITAT Kolkata

Unique Finance & Securities Private Limited Vs ACIT (ITAT Kolkata)

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Kolkata has set aside an order by the National Faceless Appeal Centre (NFAC), Delhi, thereby deleting an addition of ₹7,22,90,000/- made to the income of Unique Finance & Securities Private Limited. The appeal, pertaining to Assessment Year 2013-14, centered on an unsecured loan received by the assessee.

Unique Finance & Securities Private Limited had challenged both the reopening of its assessment under Section 147 read with Sect

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