ITAT Ruling: Assessee Eligible for Telescoping Benefit | DCIT Vs Brahmaputra Infrastructure Limited

DCIT Vs Brahmaputra Infrastructure Limited (ITAT Gauhati) ITAT have heard the rival contentions and perused the material placed before us. Revenue is aggrieved with the deletion of addition of unexplained expenditure u/s 69C of the Act at Rs.4,71,13,264/-. We, on perusal of the finding of the lower authorities notice that Mr. P.D. Deoarah is the director in M/s. Sati Oil Udyog Limited and M/s Assam Vegetable Oil Products Limited. As per the audited books of accounts for FY 2017-18, the closing balance of M/s. Sati Oil Udyog Limited as on 31/03/2018 is stated at Rs.4,09,27,220/- cannot be doubt...