Case Law Details
Case Name : ITO Vs Grace Development Associates (ITAT Mumbai)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Mumbai
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ITO Vs Grace Development Associates (ITAT Mumbai)
ITAT Mumbai held that addition under section 68 of the Income Tax Act untenable as AO failed to conduct any investigation or enquiry in respect of information submitted by the assessee. AO also failed to conduct independent investigation and simply relied on third party statements and facts.
Facts- The assessee has filed ROI for the A. Y 2013-14 on 08.01.2014, disclosing a total income of Rs.Nil and the ROI was processed u/s. 143(1) of the Income Tax A
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