Addition of Income based on statement of Director without verifying details of Payments from Third Parties is not permissible: ITAT [Read Order]

By Taxscan Team - On November 24, 2022 3:42 pm - 2 mins read

Addition of Income - addition - income - statement of Director - statement - Payments - Third Parties - ITAT - taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition of Income based on the statement of the Director without verifying details of payments from Third parties is not permissible. Shri Samir Tekriwal appeared on behalf of the assessee and Shri P.F.Jain appeared on behalf of the revenue. The…

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