ITAT Deletes Protective Addition as Partner Cannot Be Taxed for Firm’s Alleged Bogus Purchases

ITO Vs Nishant Agrawal (ITAT Raipur) Protective Addition on Partner Set Aside Due to Lack of Direct Connection With Transactions; ITAT Rejects Protective Taxation of Partner for Partnership Firm’s Bogus Purchase Allegations; Bogus Purchase Addition Deleted as Assessee Was Only Partner During Relevant Year; ITAT Upholds Deletion of Rs.1.92 Crore Addition for Absence of Substantive Findings Against Partner. The Income Tax Appellate Tribunal (ITAT), Raipur Bench, dismissed the Revenue’s appeal against the deletion of a protective addition of Rs.1,92,55,750 made in the hands of an assessee in ...