High Court Upholds CIT and ITAT's Decision: Disallowance Based on Third-Party Info Without Cross-Examination Dismissed.

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Full Text of the Document

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....Disallowance based on third party information gathered by Investigation Wing of the Department - AO denied opportunity of cross examination - High Court affirmed the order of the CIT and ITAT deleting the disallowance - on merits disallowance was based solely on third party information, which was not subjected to any further scrutiny - Petitions are dismissed....