Delhi HC rejects Revenue's appeal on ITAT order adding income under Section 68

The Delhi HC dismissed Revenue's appeal against an ITAT order adding Rs. 89 lacs under Section 68 of the Income Tax Act for Assessment Year 2002-03. No incriminating evidence on share capital was found during a search, leading to AO's unjustified invocation of Section 68. The Court held no substantial question of law arose in the ITAT order, thus dismissing the appeal.

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The Delhi High Court dismissed the Revenue's appeal against an ITAT order regarding the addition of Rs. 89 lacs under Section 68 of the Income Tax Act, 1961 for the Assessment Year 2002-03. The Court found no incriminating evidence related to share capital during a search, leading to the conclusion that the AO was not justified in invoking Section 68. The Court held that no substantial question of law arose in the ITAT order, and thus, the appeal was dismissed.

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