CIT(A) Overturns AO's 0.25% Accommodation Entry Estimate in Section 153A Assessment Due to Lack of Evidence.

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....Assessment u/s 153A - estimation of value of accommodation entries - The AO has computed the accommodation entries amount at the rate of 0.25% on hypothetical manner without any basis - CIT(A) is justified in stating that Assessing Officer has neither made any independent enquiry from the suppliers nor allowed any cross-examination of the third party though specifically demanded by the assessee-company and made the additions based on hypothesis, conjectures and suspicion - AT....