ACHARYA BALKRISHNA,HARIDWAR vs. DCIT, DEHRADUN

In the result appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S. (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

reassessment proceedings are a mere pretence and deserves to be quashed. 3. That the learned Commissioner of Income Tax (Appeals) has further erred both in law and on facts in sustaining an addition of Rs. 50, 00, 000/- under section 69 of the Act on account of unsecured loan taken and also repaid by appellant from M/s Madhurnath Infrastructure