Addition u/s 68 based on impounded document, supported with entries, tenable

DCIT Vs Gayatri Projects Limited (ITAT Hyderabad) The document impounded herein is duly supported by all the correct entries as per assessee’s stand itself, addition u/s 68 tenable Facts- The Revenue has challenged the correctness of the CIT(A)’s action restricting disallowance of assessee’s certain identical expenditure claim pertaining to Dummugudem Project to the tune of Rs.15.82 crores to the extent of 12.5% and in deleting unexplained credits addition of Rs.20,50,99,560/- (involving varying sum in six assessment years); respectively. Conclusion- Held that hon’ble apex court in...