Dismissing the appeal of the Revenue the Court held that the department was unable to point out any material unearthed during course of search which would show that advances in question were not genuine. Order of Tribunal deleting the addition is affirmed. (AY. 2008-09)
PCIT v. Gangol Vincom (P.) Ltd. (2023) 332 CTR 854 / 225 CTR 262/ 148 taxmann.com 126 (Orissa)(HC)
S. 153A: Assessment-Search-Cash credits-Furnished all documents and had explained source of credit in its original return,-Deletion of additions by the Tribunal is affirmed. [S.68, 260A]