No Addition Just for Representing Clients in Bogus Share Investigation as a CA

Rajesh Agarwal Vs ITO (ITAT Delhi) CA’s Professional Role Misread — ITAT Deletes ₹50 Lakh Estimated Addition for Lack of Evidence; ITAT Deletes Estimated ₹50 Lakh Addition Made Without Basis or Proof; Addition Deleted as AO Made Income Estimate Without Any Supporting Evidence; Tribunal Deletes Addition Made Merely Because of Power of Attorney Connection. Assessee, a practicing Chartered Accountant, filed a return declaring ₹7.32 lakh income. AO, alleging that  Assessee was linked with bogus share transactions through persons Mukesh Kumar & Deepak Aggarwal, made an ad hoc additio...