ITAT deletes Section 68 addition for violation of principles of natural justice

ACIT Vs M/s Sur Buildcon Pvt. Ltd. (ITAT Delhi) LANDMARK ORDER – Bhushan group companies get big relief by ITAT DELHI – First Of This Kind Where Addition under section 68 Quashed on Sole Ground of Violation of Natural Justice. – No Second Innings Given. Addition under section 68 deleted of Rs.36.50 Crore in three companies who has received share capital and premium of above amount from companies having low or negligible return income where A.O concluded that since the assessees were not found existing at the registered/corporate office and as per the statement of Shri Bisht t...