Bombay HC stayed demand as addition was based on statement of a person who didn’t appear for cross examination

INCOME TAX : Where Assessing Officer made an addition under section 69A to income of assessee primarily on basis of statement of a person and raised tax demand, since said person did not appear for cross-examination and, further, for previous assessment year he had retracted such statement, reliance placed on such uncorroborated statement of said person for making impugned addition was highly questionable, thus,

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