Bombay HC stayed demand as addition was based on statement of a person who didn’t appear for cross examination

INCOME TAX : Where Assessing Officer made an addition under section 69A to income of assessee primarily on basis of statement of a person and raised tax demand, since said person did not appear for cross-examination and, further, for previous assessment year he had retracted such statement, reliance placed on such uncorroborated statement of said person for making impugned addition was highly questionable, thus,INCOME TAX : Where Assessing Officer made an addition under section 69A to income of assessee primarily on basis of statement of a person and raised tax demand, since said person did not appear for cross-examination and, further, for previous assessment year he had retracted such statement, reliance placed on such uncorroborated statement of said person for making impugned addition was highly questionable, thus,www.taxmann.com Latest Case LawsRead More

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