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Case Law Details

Case Name : Virtual Global Education Ltd. Vs ACIT (ITAT Delhi)
Related Assessment Year : 2015-16
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Virtual Global Education Ltd. Vs ACIT (ITAT Delhi)

ITAT Delhi held that adhoc addition purely based on the guess-work and surmises is untenable in law. Accordingly, order set aside and assessment restored back to the file of AO for fresh assessment.

Facts- The assessee filed its return of income through e -mode on 28.09.2015, declaring income of INR 32,23,630/-. Thereafter, the case was selected for scrutiny and notice u/s 143(2) of the Income Tax Act, 1961 was issued on 17.03.2016 and served upon the assessee. In response to the statutory notices, Authorize

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