Absence of bills and Invoices of wrist watches found during search not a reason for addition u/s 69A of Income Tax Act: ITAT [Read Order]

By Aparna. M - On January 6, 2024 1:02 pm - 2 mins read
bills and Invoices - wrist watches - search - Income Tax Act-ITAT-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Delhi bench held that the absence of bills and invoices for wristwatches found during the search proceedings should not be a reason for making additions under Section 69A of the Income Tax Act, 1961. The assessee, Narinder Singh Punihani, is a resident individual. A search and seizure operation under…

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