Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur
In the result, all appeals filed by the Revenue are dismissed
ITA 132/BIL/2011[2007-08]Status: DisposedITAT Raipur10 Jan 2018AY 2007-08
Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member
For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR
…nvestment in acquiring unrecorded assets either in his name or in the name of any benamidar. Hence the ratio of the Supreme Court decision was misapplied by the AO. 1.22 The third case relied upon by the AO was that of CIT v. South Indian Rubber Products 1987 166 ITR 687 [Kerala], the evidence collected by the AO for making the addition, was ignored by the ITAT and hence the order of the ITAT was reversed and the AO's order was upheld. Whereas in the case of the appellant, despite extensive search operation, no evidence was brought by the AO on record to support the impugned additions made and hence the decision…