ACIT (OSD), Delhi Vs. M/s. Pandit Munshi Ram & Associates Pvt. Ltd
Case No: ITA No.3731/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench
Bench: Delhi Bench
Date: 2/5/2026
Parties Involved
appellantACIT (OSD), Delhi
respondentM/s. Pandit Munshi Ram & Associates Pvt. Ltd
Facts Summary
The assessee did not file the return of income. The AO noticed several transactions such as purchase of an immovable property, interest earned, and payments made to contractors. Notice was issued u/s 148 of the IT Act, and the assessee filed the return of income declaring total income of Rs. 15,05,260/-. The AO added unexplained expenditure u/s 69C and estimated profit on turnover. The assessee appealed before the CIT(A), which deleted the additions. The revenue appealed to the ITAT.…
Decision in favour of
Assessee
Legal Issues
- 1. Addition made u/s 69C for unexplained expenditure
- 2. GP addition made on estimate basis