Addition based on mere AIR not justified when income declared far exceeds the income shown in AIR

Shri S. Ganesh vs. ACIT (ITAT Mumbai), ITA No.3565/Mum/2012, Date of pronouncement: 16.11.2012 Tribunal  held that in the absence of any material brought by the revenue authorities that the assessee has received amount more than the professional fees which has been declared by him in the P&L account and when the professional income declared by the assessee far exceeds the professional fees shown in the AIR information, then additions solely based on the AIR information are not sustainable. AO has stated that as per AIR information, assessee has received total fees amounting to Rs.59,28,90...