Addition U/s. 69A based on part of statement which suited AO not sustainable

Vijay L. Bhawe Vs. Asst. CIT (ITAT Mumbai) Addition U/s. 69A based on part of statement which suited AO not sustainable Assessee has been claiming right from the stage of the assessing officer that assessee is having sufficient amount of cash withdrawals since last many years. The point worth noting here is that this fact was stated by the assessee in his statement also at the time of search. Learned assessing officer has chosen to rely only upon that part of statement which suited him and ignored the remaining one. It is well accepted position of law that in the income tax proceedings theory ...