https://www.taxtmi.com/caselaws?id=775513 The ITAT Ahmedabad held that faceless assessment provisions under section 144B were not applicable as a regular assessment was conducted by the Deputy Commissioner. Additions on unexplained receipt under section 69A were deleted since the statement relied upon was not confronted to the assessee, and the assessee demonstrated regular transactions supported by ledger accounts. The AO's rejection of books of account lacked proper basis under section 145(3). No admissions were made by the assessee or related parties regarding unaccounted purchases during search proceedings. Additions on unexplained investment and gross profit estimation were also deleted due to lack of evidence of unrecorded payments. The Tribunal confirmed the CIT(A)'s order in favor of the assessee and dismissed the Revenue's grounds as devoid of merit. en-us Wed, 23 Jul 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775513 The ITAT Ahmedabad held that faceless assessment provisions under section 144B were not applicable as a regular assessment was conducted by the Deputy Commissioner. Additions on unexplained receipt under section 69A were deleted since the statement relied upon was not confronted to the assessee, and the assessee demonstrated regular transactions supported by ledger accounts. The AO's rejection of books of account lacked proper basis under section 145(3). No admissions were made by the assessee or related parties regarding unaccounted purchases during search proceedings. Additions on unexplained investment and gross profit estimation were also deleted due to lack of evidence of unrecorded payments. The Tribunal confirmed the CIT(A)'s order in favor of the assessee and dismissed the Revenue's grounds as devoid of merit. Case-Laws Income Tax Wed, 23 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775513