Court Upholds CIT(A) Orders: No Evidence of Capitation Fees in Cash Under Income Tax Act Section 132(4).

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....Addition based on statements recorded u/s. 132(4) - Effect of retraction of statements recorded u/s. 132(4) of the Act - Taxation of capitation fee alleged to have been received in cash by the assessee for admission of students - there was no evidence suggesting that the assessee charged capitation fee and consequent thereto the AICTE dropped the complaint against the assessee. - We do not find any reason to interfere with the orders of CIT(A) accordingly, it is justified - AT....