Addition under Section 68 unsustainable in absence of establishment of links between evidences

ITO Vs Kalpesh C. Shah (ITAT Mumbai) Conclusion: The ITAT deleted the additions made under Section 68 and 69C on the reasoning that AO was unable to establish links between the evidence collected. Facts: In present facts,  appeals were filed by the Revenue are directed against three separate orders, each dated 19/04/2022, passed by the National Faceless Appeal Centre (NFAC), Delhi for assessment year 2010 – 11; 2011-12 and 2012 -13 respectively. In assessment year 2011 -12 deletion of the (a) addition under section 68 of the Income -tax Act, 1961 (in short ‘the Act’) of ₹2,34,00,...