Books & Vouchers not Required in 44AD Return; ITAT deletes Section 69A Addition

Narendra Kumar Gupta Vs DCIT (ITAT Delhi)

Introduction: In a recent case, Narendra Kumar Gupta challenged the addition of Rs. 52,02,500 under section 69A of the Income Tax Act for the assessment year 2019-20. The case involved a search and seizure operation at Faquir Chand Lockers and Vaults Pvt. Ltd. The primary issue was whether books of account and vouchers were required in a 44AD return. This article provides a detailed analysis of the case and its implications.

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