Addition for Alleged Accommodation Entry Deleted for Lack of Evidence

Saraswati Education Sansthan Vs ITO (Exemption) (ITAT Ahmedabad) Addition for Alleged Accommodation Entry of Rs. 15.50 Lakh Deleted – AO Cannot Rely Solely on Investigation Report- ITAT Ahmedabad Ahmedabad Tribunal in deleted addition of Rs.15,50,450/- made on account of alleged accommodation entry, holding that AO failed to carry out independent verification & made addition only on basis of Investigation Wing information. Assessee, an educational trust, was alleged to have received accommodation entry of Rs.15.50 lakhs from Mehta Group, unearthed during a search in 2018. AO reopened a...