s.131 powers affirmed; ss.68, 56(2)(viib) additions deleted; mixed result on s.40A(2), s.36(1)(iii)/(va) interest contributions remand

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....HC held that authorities under s.131 possess powers akin to a civil court, including examining persons on oath; therefore, statements recorded thereunder are admissible in principle. Nevertheless, on facts, HC upheld ITAT's deletion of additions under ss.68 and 56(2)(viib), finding no perversity in ITAT's re-appreciation of the third-party statement and noting absence of specific defects in the assessee's share valuation; additions were thus unsustainable and decided in favour of the assessee. HC also upheld ITAT's remand on lease rent paid to a director for fresh examination under s.40A(2). However, on disallowances under ss.36(1)(iii) and 36(1)(va), HC accepted the revenue's challenge, set aside ITAT's remand, and directed ITAT to decide the issue afresh on existing material and law.....