Since no notice under section 143(2) was issued by AO before completion of assessment, therefore, addition made under section 68 was liable to be deleted.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
The Revenue is aggrieved by the order of the ITAT which directed the deletion of some amounts under section 68 of the Income Tax Act by the lower authorities.
The ITAT premised its decision on the circumstance that no notice was issued under section 143(2), before the completion of assessments.
The ITAT followed the view in Pr. CIT v. Jai Shiv Shankar Traders (P) Ltd. (2016) 383 ITR 448 (Del). That decision has further been affirmed in Pr. CIT v. Silver Line (2016) 383 ITR 455 (Del).
As a consequence, no substantial question of law arises.
The appeals are dismissed.