Without Pointing Out Any Specific Defect In Audited Books Of Accounts AO Can't And Should Not Make Any Estimated Addition: ITAT

The Delhi Bench of Income Tax Appellate Tribunal has held that without pointing out any specific defect in the audited books of accounts, the AO cannot and should not make any estimated addition.The bench of Kul Bharat and N. K. Billaiya has observed that the expenses claimed by the assessee were also test-checked, and while making the addition, the. The Delhi Bench of Income Tax Appellate Tribunal has held that without pointing out any specific defect in the audited books of accounts, the AO cannot and should not make any estimated addition. The bench of Kul Bharat and N. K. Billaiya has observed that the expenses claimed by the assessee were also test-checked, and while making the addition, the AO says that the books of account vouchers were not produced. The AO notes that the books of account vouchers were not produced, even though the assessee's alleged expenses were also verified by testing.