Search Assessment Limited as Bank Valuation Found Insufficient Evidence

ITO Vs Smt. Samiksha Mahajan (ITAT Delhi)

Bank Valuation ≠ Incriminating Material: Delhi ITAT Restricts Section 69 Addition & Deletes Estimated STCG in Search Assessment

The Delhi Bench of the ITAT dismissed both the Revenue’s appeal and the assessee’s cross-objection, holding that a bank valuation report obtained u/s 133(6) cannot be treated as incriminating material for making additions in a search assessment u/s 153A, and that Please become a Premium member. If you are already a Premium member, login here to access the full content.