Section 68 Addition by ignoring all evidences filed by assessee is unsustainable

Smt. Rita Agarwal Vs DCIT (ITAT Chennai) Held that addition, only on the basis of information received from investigation wing ignoring all the evidences filed by the assessee, is unsustainable in law Facts- The search and seizure operations under section 132 of the Act took in the residential premises of Shri Pankaj Agarwal, Managing Director of M/s. Suryadev Alloys and Power Pvt. Ltd., documents belonging to the assessee were seized and a notice u/s. 153A was served on the assessee. In response, the assessee filed ROI admitting income of ₹29,64,800/-. Thereafter, the Assessing Officer has ...