Section 69 Addition Fails – RTGS Proof Defeats Excel-Based Cash Allegation

Mamta Patel Vs ACIT (ITAT Raipur) Third-Party Search, Third-Party Excel – ITAT Protects Genuine Buyer- No Cash, Only Bank Trail: Section 69 Addition Struck Down Tribunal examined addition of Rs.5,07,690/- u/s 69 alleged as unexplained investment on the basis of an excel sheet seized during search on Wallfort Group. AO treated the amount as cash paid by Assessee for flat E-802 in Wallfort Heights & CIT(A)/NFAC upheld the view. Assessee produced before Tribunal complete bank trail: RTGS of Rs.5,07,748.42 made on 22.07.2019, matching exactly with the figure in the seized excel sheet. Re...