ITAT Rejects Revenue’s Addition Based Only on Third-Party Statement

DCIT Vs Cable Corporation of India Limited (ITAT Mumbai) Bogus addition can’t rest on shaky confession alone: ITAT rejects transport expense disallowance based solely on retracted third-party statement Mumbai ITAT in a batch of Revenue appeals in dismissed all appeals of Revenue &  upheld deletion of additions towards alleged bogus transport expenses. AO had made additions (₹3.41 crore for AY 2018-19 &  similar additions in other years) solely on the basis of statements of a third party transporter, Shri Pradip Udeshi, recorded during search, alleging accommodation billing withou...