Bogus Sales Profit Addition Remanded: CIT(A) Failed to Pass Speaking Order

Evergreen Bamboo India Private Limited Vs ITO (ITAT Delhi) Profit Addition of 12.5% on Alleged Bogus Sales Remanded – ITAT Directs CIT(A) to Give Proper Opportunity & Reasoned Order Assessee filed appeal against the NFAC order sustaining addition of ₹20,16,782/- (12.5% of alleged sales) u/s 68, while deleting the balance ₹1.41 crore. Assessee contended that no adequate opportunity was given before sustaining partial addition & that the order lacked reasoning, thus violating principles of natural justice. Tribunal observed that though CIT(A) deleted major addition, he failed to as...