ITAT Mumbai Quashed Cash Addition Based Only on Third-Party Excel Sheet

Kulsum Aaqib Memon Vs DCIT (ITAT Mumbai) ITAT Mumbai: Cash Addition u/s 69 Based Solely on Third-Party Excel Sheet Set Aside The Mumbai ITAT (E Bench) allowed the assessee’s appeal for AY 2021-22 and deleted the addition of ₹5,00,000 made under section 69, which was alleged as unexplained cash payment for purchase of a shop. The addition arose from search proceedings in the Rubberwala Group and was based entirely on third-party statements and an Excel sheet recovered during the search. The Tribunal noted that: The assessee did not purchase any property during AY 2021-22; the shops were pu...