Transactions in Regular Books Not Incriminating Material; ITAT Deletes Addition

DCIT Vs Martial Buildcom P. Ltd. (ITAT Delhi)

The Income Tax Appellate Tribunal (ITAT) Delhi addressed the appeals by the revenue against the CIT(A) order dated 21.07.2023 pertaining to A.Y. 2011-12 and 2012-13 in the case of DCIT Vs Martial Buildcom P. Ltd. Both appeals were disposed of together due to common grounds.

The crux of the dispute revolved around several additions made by the Assessing Officer (AO) under section 40a(ia) and differential valuation of Transfer of Development Rights (TDR), without any incriminating material found during

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