Addition U/s. 41(1) not justified on failure of revenue to prove adjustment of liability

IN THE ITAT BANGALORE BENCH ‘B’ Smt. Victoria Roberts versus Assistant Commissioner of Income-tax IT APPEAL NO. 88 (BANG.) OF 2012 [ASSESSMENT YEAR 2008-09] Date of pronouncement –14.09.2012 ORDER N.V.Vasudevan, Judicial Member This is an appeal by the assessee against the order dated 23-11-2011of CIT(A), Mysore, relating to AY: 2008-09. 2. The only issue that arises for consideration in this appeal is as to whether the revenue authorities were justified in making the addition of Rs. 25,51,792.86 to the total income of the assessee by invoking provisions of sec. ...