Mere non-attendance of summons cannot be reason to disbelieve genuineness of transaction

ACIT Vs Chalet Hotels Ltd (ITAT Mumbai) ITAT Mumbai held that the assessee had furnished sufficient evidences to justify the genuineness of the payments and therefore their mere non-attendance of summons, cannot be reason enough to disbelieve the genuineness of the transactions with them. Accordingly, addition u/s. 69C deleted. Facts- Revenue has preferred the present appeal contesting against action of Ld. CIT(A) in deleting the addition made towards unexplained expenditure u/s. 69C of the Income Tax Act. Revenue is contesting against the action of the Ld. CIT(A) in deleting the disallowance...