https://www.taxtmi.com/caselaws?id=773966 The Tribunal set aside additions totaling approximately Rs. 1.61 crore made under section 68 of the Income Tax Act, 1961 for unexplained share capital increase, non-current liabilities, trade payables, and purchase expenses. The Assessing Officer had ignored documentary evidence including ledger confirmations, bank statements, GST returns, and MCA filings submitted by the assessee during faceless assessment proceedings. The Tribunal held that additions under section 68 require proper examination of evidence and cannot be mechanically imposed. The matter was remitted to the Assessing Officer for fresh adjudication with proper hearing opportunity, emphasizing that faceless assessments must comply with natural justice principles. en-us Fri, 06 Jun 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773966 The Tribunal set aside additions totaling approximately Rs. 1.61 crore made under section 68 of the Income Tax Act, 1961 for unexplained share capital increase, non-current liabilities, trade payables, and purchase expenses. The Assessing Officer had ignored documentary evidence including ledger confirmations, bank statements, GST returns, and MCA filings submitted by the assessee during faceless assessment proceedings. The Tribunal held that additions under section 68 require proper examination of evidence and cannot be mechanically imposed. The matter was remitted to the Assessing Officer for fresh adjudication with proper hearing opportunity, emphasizing that faceless assessments must comply with natural justice principles. Case-Laws Income Tax Fri, 06 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773966