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The appeals of the Revenue and Assessee stands dismissed.The Ld. CIT(A) has erred in deleting the addition made u/s 68 of Rs. 85, 31, 830/-, without appreciating the important fact that such addition was made on the basis of specific information of providing loan to the CHL Group which was revealed during search operation and opportunity of cross examination was also provided to the assessee.

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Section 68 & 132 of the Income Tax Act, 1961 — Search and Seizure — Addition was made on the basis of pen drive seized from third party and Department failed to establish any connection either business or personal of assessee with third party and there were no efforts to summon third party and no incriminating material was found during Search — Deputy Commissioner of income tax vs. Mahesh Bansal [2020] 77 ITR (trib) 205 (Indore)

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