Scrutiny of Additions Based on Seized Documents Remanded for Re-Examination

Hindusthan Bawa Builders Vs ACIT (ITAT Bangalore) Matter related to scrutiny of additions based on seized documents was remanded for further examination Conclusion: Addition under Section 69B in the hands of the assessee – partnership firm for entire cash payment made to landowners as refundable security deposit under a Joint Development Agreement (JDA) should be remanded to AO for further inquiry as payment was made jointly with another party and there was no proper opportunity for cross-examination. Held: Assessee-partnership firm in which Abdul Khader Kodi was the Managing Partner an...