ITAT Upholds Section 69B Addition as Appellant Fails to Attend despite 20 Notices

Rounak Farms Private Ltd Vs ACIT (ITAT Pune) Introduction: In the case of Rounak Farms Private Ltd. vs. ACIT, the issue at hand concerns the confirmation of additions made under section 69B of the Income Tax Act (ITA) for the assessment year 2011-12. This appeal was filed against the order dated 18-09-2020 passed by the Commissioner of Income Tax (Appeals)-11, Pune [CIT(A)]. Detailed Analysis: Rounak Farms Private Ltd. is a private limited company engaged in the business of land dealing. A search and seizure action under section 132 of the Income Tax Act was conducted at the residential and ...