M/S BLUE CITY TOWNSHIP & COLONIZERS,AMRITSAR. vs. THE INCOME TAX OFFICER,, AMRITSAR.

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

unexplained investment as per the provisions of section 69 of the I. T. Act. He argued that no addition for undisclosed investment can be made merely relying on the third party statement and evidence which has been retracted as recorded in the back of the assessee; that the evidences relied upon by the AO for framing assessment were never confronted

NASA AGRO INDUSTRIES PRIVATE LIMITED,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

In the result, the appeal filed by the assessee is allowed for statistical purpose