s. 68 Addition for unexplained should be deleted even if Assessee explains & provides credible evidences even during appellate proceedings

ITAT CHANDIGARH BENCH ‘A’ Income Tax Officer-V(4), Ludhiana Versus Sains Engg. Works IT Appeal No. 980 (Chd.) of 2010 [ASSESSMENT YEAR 2007-08] Date of Pronouncement – 27.09.2012 ORDER Mehar Singh, Accountant Member The present appeal filed by the Revenue is directed against the order dated 12.04.2010 passed by the ld. C1T(A) u/s 250(6) of the Income-tax Act,1961 (in short ‘the Act’). 2. In this appeal, the Revenue has raised the following Grounds of Appeal: “1.          That the Ld. CIT(A)-II has erred in law and on facts in deleting th...