Additions based on mere AIR information not sustainable

Ground No.1 is relating to addition of Rs.4,49,440/- on account of AIR information. The assessee is a registered partnership firm of advocates and solicitors. The AIR information showed that the assessee had received professional/technical fees from various persons aggregating to Rs.1,39,15,584/- which the Assessing Officer (hereinafter referred to as the AO) required the assessee to reconcile. The assessee reconciled major portion of the amount but could not reconcile the amount of Rs.4,49,440/- allegedly received from Allied Digital Services Ltd. The assessee stated before the AO that it had...