If assessee merely acted as a conduit without any right in money, no addition can be made u/s 69A

Brief of the case:

In the case of M/s Bhagwati Motors Vs. ITO Chandigarh bench of ITAT have held that Assessee merely acted as a conduit without any right in money, therefore, no addition under section 69A of the Act could be made against the assessee. Assessee took money through cheque from one company and transferred the whole amount in bank account of another company, without any commission/consideration. CIT (A) dismissed appeal filed by assessee. On further appeal ITAT deleted the additions after observin

Please become a Premium member. If you are already a Premium member, login here to access the full content.