ITAT Deletes Addition on Alleged Shell Company Funds as AO Failed to Prove Transaction

Winner Tradecom Pvt. Limited Vs ITO (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, in the case of Winner Tradecom Pvt. Limited Vs ITO, addressed the validity of an addition of ₹15,00,000/- made under Section 68 of the Income Tax Act, 1961, which governs unexplained cash credits. The appeal was for the Assessment Year (A.Y.) 2018-19. Background of the Dispute The assessee, Winner Tradecom Pvt. Limited, is a private limited company that initially filed a return declaring an income of ₹78,750/-. The case was selected for scrutiny under Section 147 after the Investigat...