Held that the Assessing Officer had merely relied upon extracts of certain uncorroborated excel sheets, found during the course of search. The Assessing Officer neither furnished the copy of statement nor an opportunity of cross examination. Addition on account of alleged cash loan was rightly deleted by CIT(A). (AY. 2011-12)
Prakash Chand Kothari v. Dy.CIT (2022) 94 ITR 49 (Jaipur)(Trib.)
S. 69 : Unexplained investments-Search and seizure-Income of any other person-No satisfaction recorded-Data found in pen drive-Neither furnished the copy of statement nor an opportunity of cross examination-Addition on account of alleged cash loan was deleted. [S. 131, 132(4), 153C]