https://www.taxtmi.com/caselaws?id=57552 The Tribunal upheld the validity of the statement recorded by the ADI under section 131(1A) but agreed with the CIT(A) that the assessee did not carry on any business during the assessment years 1986-87 and 1987-88. Consequently, the additions of Rs. 1,08,000 for each of these years were deleted, resulting in the appeals filed by the revenue being allowed only in part. en-us Fri, 21 Aug 1998 00:00:00 +0530 Fri, 10 Dec 2010 17:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57552 The Tribunal upheld the validity of the statement recorded by the ADI under section 131(1A) but agreed with the CIT(A) that the assessee did not carry on any business during the assessment years 1986-87 and 1987-88. Consequently, the additions of Rs. 1,08,000 for each of these years were deleted, resulting in the appeals filed by the revenue being allowed only in part. Case-Laws Income Tax Fri, 21 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57552