Only when assessee is able to offer reasonable explanation, based on some evidence, Assessing Officer cannot invoke Part B of Explanation to section 271(1)(c)

ITAT, HYDERABAD BENCH `B’, HYDERABAD ,

V. Kumara Swamy Naidu Vs. ITO,

APPEAL NO: ITA No. 108/Hyd/2009,

DECIDED ON May 14, 2010

RELEVANT PARAGRAPHS:

5. We have heard both the parties and perused the material on record. The main contention of the assessee’s counsel is that the asse

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