ITAT Upholds CIT(A) Order deleting Section 40A(3) ₹12.92 Cr Addition

Rajeshbhai Naranbhai Patel Vs ACIT (ITAT Ahmedabad)

ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit

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Summary: In the case of Rajeshbhai Naranbhai Patel vs. ACIT, the Income Tax Appellate Tribunal (ITAT) Ahmedabad upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)], which deleted a ₹12.92 crore addition made by the Assessing Officer under Section 40A(3) of the Income Tax Act. The dispute arose from the revenue&#

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