Assessee Successfully Challenges Additions u/s 68; AO and CIT(A) Faulted for Dismissing Evidence Without Inquiry.

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....Additions u/s 68 - Low profit ratio - the assessee has discharged his onus before the revenue authorities. AO and the ld. CIT(A) rejected the explanation of the assessee solely based on the limited issue of low profit - There were no enquiries made nor any evidence to reject the documents/evidences filed by the assessee - AT....