https://www.taxtmi.com/caselaws?id=753060 ITAT Delhi upheld AO's best judgment assessment under section 144 involving additions for investment depletion, debit balance write-off, section 40(a) disallowances, and unsecured loans. Assessee failed to provide contradictory material evidence or loan confirmations from parties. Auditor's own records supported AO's findings that investment depletion and debit balances were capital in nature. Without contrary evidence, tribunal affirmed AO's additions and dismissed assessee's appeal. en-us Wed, 22 May 2024 00:00:00 +0530 Fri, 24 May 2024 07:06:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753060 ITAT Delhi upheld AO's best judgment assessment under section 144 involving additions for investment depletion, debit balance write-off, section 40(a) disallowances, and unsecured loans. Assessee failed to provide contradictory material evidence or loan confirmations from parties. Auditor's own records supported AO's findings that investment depletion and debit balances were capital in nature. Without contrary evidence, tribunal affirmed AO's additions and dismissed assessee's appeal. Case-Laws Income Tax Wed, 22 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753060