https://www.taxtmi.com/caselaws?id=759378 ITAT Delhi ruled in favor of the assessee regarding jurisdictional and procedural issues. The tribunal found that while the initial notice was validly issued within time limits, the CIT(A) erred by changing the legal provision from section 68 to section 69C without providing mandatory show cause notice. The CIT(A) improperly made additions under section 69C when the AO had accepted books of accounts, audit reports, and sales figures. Since corresponding sales were accepted and gross profit margins were reasonable, the tribunal deleted the addition made under section 69C, allowing the assessee's appeal. en-us Wed, 25 Sep 2024 00:00:00 +0530 Mon, 30 Sep 2024 13:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759378 ITAT Delhi ruled in favor of the assessee regarding jurisdictional and procedural issues. The tribunal found that while the initial notice was validly issued within time limits, the CIT(A) erred by changing the legal provision from section 68 to section 69C without providing mandatory show cause notice. The CIT(A) improperly made additions under section 69C when the AO had accepted books of accounts, audit reports, and sales figures. Since corresponding sales were accepted and gross profit margins were reasonable, the tribunal deleted the addition made under section 69C, allowing the assessee's appeal. Case-Laws Income Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759378