Dismissing the appeal of the Revenue the Court held that the Assessee was not named in Memorandum of understanding (MoU) either as a party or as a witness. Further, no cash was found or seized during search conducted on premises owned by assessee. Order of Tribunal deleting the addition was affirmed. (AY. 2012-13)
PCIT v. Trilok Chand Choudhary (2023) 291 Taxman 462 (Delhi)(HC)
S. 68 : Cash credits-Search-No cash was found-Memorandum of understanding (MoU)-Statement under section 131-Deletion of addition by the Appellate Tribunal was affirmed.[S. 131 132]