2003 (2) TMI 11

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....bunal has committed error in deleting an addition of Rs. 5,00,000 on account of cars held by the assessee in the name of other parties. On elaborate discussion, the Tribunal has found that the Department has failed to produce any evidence that the subject vehicles were owned and possessed by the assessee, except the fact, that the names of the vehicles were written on the back page of annexure 2. ....