ITAT Removes Protective Addition of Undisclosed Income for Assessee Firm Not Receiving Consideration, Aligns with Partner Accounts.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Protective addition - Addition of undisclosed income (on money consideration received by the assessee) - no similar addition was made in the hands of partners in their individual accounts - assessee firm was merely a confirming party and no consideration was received by the assessee firm - ITAT has correctly deleted the additions.....