Assessing Officer (AO) should carefully verify the statement given by the Assessee against any claim made by him

D.C.I.T., Central Circle-XIX Vs. MBL Infrastructure Ltd. (ITAT Kolkata)-  All the impugned entries were analysed by the assessee company in detail and the entry to entry correlation with the cash workings filed by the applicants before the Honourable Settlement Commission were submitted by the assessee before the lower authorities. The entries of disclosed nature were also correlated with the regular books of account of the concerned persons and copies of relevant extracts of the regular accounts were filed with the A.O. As such, the ownership of the undisclosed entries by the concerned appli...