https://www.taxtmi.com/caselaws?id=448799 Delhi HC directed ITAT to restore the matter to AO for obtaining information from parties regarding transactions during the relevant assessment years. The court found no grounds to entertain appeals regarding addition based on seized documents and unaccounted transactions, noting that assessment was not confined to search material but examined all transactions. On bogus purchases estimation, ITAT held that without rejecting books of account, AO cannot assess income on best judgment basis. Court scheduled re-notification to examine if the issue was concluded by prior HC decision, citing Unit Construction Co. Ltd. precedent regarding assessment without book rejection. en-us Wed, 24 Jan 2024 00:00:00 +0530 Mon, 29 Jan 2024 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448799 Delhi HC directed ITAT to restore the matter to AO for obtaining information from parties regarding transactions during the relevant assessment years. The court found no grounds to entertain appeals regarding addition based on seized documents and unaccounted transactions, noting that assessment was not confined to search material but examined all transactions. On bogus purchases estimation, ITAT held that without rejecting books of account, AO cannot assess income on best judgment basis. Court scheduled re-notification to examine if the issue was concluded by prior HC decision, citing Unit Construction Co. Ltd. precedent regarding assessment without book rejection. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448799