2011 (2) TMI 1463

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..... tion contained in the said pen drive, addition was made in the income of the assessee under Section 69 of the Income Tax Act. CIT(A) set aside the order of the Assessing Officer and deleted the addition on the ground that reliance cannot be placed on pen drive. More so, that Mr. Chetan Gupta, had denied payment to assessee in his statement recorded under Section 131. ITAT has upheld this order on .....

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..... . Therefore, in absence of any evidence on record, the addition was not sustainable. It is strange to note that the Assessing Officer having recorded the statement of Sh. Chetan Gupta chosen to remain silent. This proves that in the statement of Sh Chetan was no adverse factor affecting the tax liability of the assessee. Accordingly, the addition was rightly deleted by the learned CIT(A). We .....

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