AO cannot Draw Adverse Inference on Non response of Directors to Notices: Calcutta HC [Read Order]
The court upheld the order passed by the tribunal, stating that the tribunal has done an elaborate examination of the factual matrix, which ought to have been done by the Commissioner of Income Tax (Appeals) when the appeal was decided
The Calcutta High Court held that Assessing Officers ( AO ) cannot draw adverse inferences on the non-response of directors to notices. The court, while examining the validity of the addition made under Section 68 of the Income Tax Act, 1961, found that the AO made the addition only because the directors failed to respond…
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