HC Dismisses Revenue Appeal Against Deletion of Protective Section 69 Addition

PCIT Vs Electrical And Electronics India Ltd. (Delhi High Court) The Delhi High Court considered the Revenue’s appeal against the Income Tax Appellate Tribunal’s order dated 18.04.2023 relating to Assessment Year 2011-12. The Tribunal had examined the correctness of the Commissioner of Income Tax (Appeals)’ order dated 13.11.2017 concerning Assessment Years 2010-11 to 2012-13. The dispute related to the deletion of an addition of ₹4,25,00,085 made under Section 69 of the Income Tax Act, 1961 on account of alleged unexplained investments made by the respondent-assessee in th...