ITAT Jaipur Deletes ₹6.26 Cr. Addition u/s 68 on Sub-Contract Receipts – Double Taxation Avoided

Radhakishan Beniwal Vs DCIT (ITAT Jaipur) ITAT Jaipur Deletes ₹6.26 Cr. Addition u/s 68 on Sub-Contract Receipts – Double Taxation Avoided Background Assessee, a civil contractor (AA Class, PWD registered), executed NHAI project work as an approved sub-contractor of Dineshchandra R. Agrawal Infracon Pvt. Ltd. (DRAIPL). During reassessment, AO alleged that assessee was a beneficiary of bogus sub-contracts unearthed in DRAIPL search. AO held that ₹6,26,68,011/- credited in assessee’s books was unexplained u/s 68, despite TDS being deducted u/s 194C & income shown in P&L. CIT(A...