2012 (9) TMI 952

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....e Income-tax Appellate Tribunal ("the Tribunal" for short) dated 27-9-2010 raising following questions for our consideration: "(i) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in deleting addition of Rs. 7,49,181/- being interest on unexplained investment made by the Assessing Officer and confirmed by the Appellate Commissio....

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....nded document. Ultimately, the Tribunal deleted the addition on the ground that such statement recorded during survey could not have been relied upon. Reference was placed on decision of Kerala High Court in case of Paul Mathews and Sons v. CIT [2003] 263 ITR 101. The Tribunal further noted that theory of omission of one zero is not borne out from the impounded document. Tribunal was therefore, of....

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....f partner, there was no further evidence with the Revenue to make addition. In fact document itself only suggested entry of Rs . 3,12,159/-. It was on the strength of the statement of the partner during the survey that the Revenue inflated such figure 10 times by adding zero. Statement of partner also suggested that it was his personal income and not that of firm. Thus entire statement was also no....