ITAT upholds CIT(A) Decision, Dismissing Additions for AY 2015-16 Due to Lack of Evidentiary Value in Excel Sheet [Read Order]
The Tribunal observed that the AO failed to verify the Excel sheet entries and did not conduct sufficient inquiries, noting the lack of transaction details and concluding that the sheet was unauthenticated and lacked evidentiary value
The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Commissioner of Income Tax (Appeals)[CIT(A)],dismissing the additions made for Assessment Year(AY) 2015-16 due to a lack of evidentiary value in an unsigned Excel sheet. The revenue-appellant filed an appeal for AY 2015-16 against the order of the CIT(A), dated March 5, 2024,…
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