Dismissing the appeal of the revenue , the Court held that , the assessee has filed Confirmation, balance sheet, bank account produced .AO had made no effort to verify the details filed by the assessee. Accordingly the addition is held to be not justified .( AY. 2009-10) ( ITA No. 786 of 2016 dt .11-12-2018)
PCIT v. Parth Enterprises ( Bom) (HC) (UR) Editorial. Order in ITO v. Parth Enterprises ( Mum) (Trib) ( ITA No 976/M. 2016 dt. 10-06-2015 is affirmed .
S.68: Cash credits – Loans – Confirmation, balance sheet, bank account produced -AO had made no effort to verify the details filed by the assessee- Addition is held to be not justified .