Unverified Third-Party Evidence Cannot Support Tax Additions, ITAT Rules

Akhraj Pukhraj Chopra Vs DCIT (ITAT Mumbai) ITAT Mumbai Deletes On-Money Additions: Third-Party Statements Without Corroboration Held Invalid In these four connected appeals, Assessees challenged additions of ₹2,00,000 each made u/s 69 towards alleged on-money paid for purchase of shop units in “Platinum Mall”, based solely on statements of key persons of Rubberwala Group recorded during search on 17.03.2021. Tribunal noted that no incriminating material, document, diary, seized evidence or electronic record naming either Assessee was ever found, nor was any corroborative evidence of act...