Deeming Provision U/s. 50C cannot be applied to Purchase to make addition U/s. 69B

IN THE ITAT AHMEDABAD BENCH ‘D’ Deputy Commissioner of Income-tax, Circle-9 versus Virjibhai Kalyanbhai Kukadia IT APPEAL NO. 372 (AHD.) OF 2010 [ASSESSMENT YEAR 2006-07] AUGUST 31, 2012 ORDER Anil Chaturvedi, Accountant Member This appeal is filed by the Revenue against the order of CIT (A)-V, Surat dated 12-10-2009 for the assessment year 2006-07. 2. The Revenue has raised following grounds: “1.  The Ld. CIT (A)-V, Surat has erred in facts and in law in deleting the addition made by the A.O. at Rs. 2,56,26,205/- u/s. 69B despite the fact that all evidences...