ITAT Delhi Deletes Section 69A Addition as Sales Were Recorded in Books

Bath Affair Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, considered an appeal against an order passed under Section 250 dated 29.12.2023, whereby the National Faceless Appeal Centre had confirmed an addition of Rs. 1,53,03,000 made by the Assessing Officer. The dispute related to the addition made under Section 68 on account of alleged unexplained cash deposits in the assessee’s bank account. The assessee argued that the show cause notice issued by the Assessing Officer was vague because it referred to Sections 68/69 without clearly specifying the applicable provision...