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TMI Blog2012 (8) TMI 1073X X X X Extracts X X X X X X X X Extracts X X X X ..... Enterprises Pvt Ltd., based on AIR information - Held that:- Addition merely on the basis of AIR information and without bringing any evidence on record that the assessee has actually received the said interest of ₹ 2,66,916. It is not the case of the department that the said party was put to cross examination or the ledger account of the assessee in the books of account of the said party were given to the assessee and assessee was confronted thereon. We agree with ld A.R. that merely on the basis of AIR information and without bringing any evidence on record, it cannot be held that interest income has been received by the assessee from Rajvaibhav Enterprises (P) Ltd. Therefore, the said addition is not justified. Addition on acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame. Ld CIT(A) also confirmed the action of AO. Hence, this appeal by the assessee. 4. During the course of hearing, ld A.R. referred page 36 of PB, which is a copy of letter dt.18.12.2009 addressed to the AO and stated that if the claim of bad debt is not allowed, it is a trade debt as loss of advance paid by the assessee during the course of business. At the time of hearing, ld A.R. could not specify as to what item, assessee proposed to purchase from the said party to whom advance was made. Further, there is no invoice or any correspondence to substantiate the contention of the assessee. In view of above, we do not find any merit in the contention of ld A.R. Hence, we uphold the order of ld CIT(A) and reject the ground Nos.1 2 taken ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d without bringing any evidence on record that the assessee has actually received the said interest of ₹ 2,66,916. It is not the case of the department that the said party was put to cross examination or the ledger account of the assessee in the books of account of the said party were given to the assessee and assessee was confronted thereon. We agree with ld A.R. that merely on the basis of AIR information and without bringing any evidence on record, it cannot be held that interest income has been received by the assessee from Rajvaibhav Enterprises (P) Ltd. Therefore, the said addition is not justified. Accordingly, we delete the addition of ₹ 2,66,916 by allowing ground Nos.3 4 of appeal taken by the assessee. 10. In Gro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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