PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) vs. INDRANI PATNAIK

Bench: MR. JUSTICE ARINDAM SINHA,MR. JUSTICE M.S.SAHOO

5. The ITAT in the impugned order has also held as under:- In the circumstances, the action of the AO in making the impugned addition u/s 69C could only be termed as on the basis of conjectures and surmises......” (emphasis supplied) “....Thus, there is a clear finding that purchases were actually made and the same was not disputed

COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. M/S. ROLAND EDUCATIONAL AND CHARITABLE TRUST

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN