Addition based on mere statement which was retracted later with proper reasons not justified

Revenue is in appeal against the judgment of ITAT dated 9-6-2016, raising following questions for consideration :–

“(A) Whether on the facts and in the circumstances of the case and in law, the decision of ITAT in deleting the addition made on the basis of statements of the partners of the firm quantifying the unaccounted expenditure in land development is justified ignoring tha

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