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ITAT Deletes Section 68 Addition as Sale Proceeds Were Realisation of Earlier Investment
Case Law Details
- Case Name
- Brij Resources Pvt. Ltd. Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Delhi
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Brij Resources Pvt. Ltd. Vs ITO (ITAT Delhi)
The appeal before the Income Tax Appellate Tribunal (ITAT), Delhi, arose from the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year (AY) 2010-11, involving reassessment proceedings under Sections 147 and 148 and additions made under Section 68 of the Income-tax Act. The assessee had originally filed its return declaring income of ₹7,380, which was processed under Section 143(1). Subsequently, based on information received from the Investigation Wing regarding alleged accommodation entries provided by e...
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