Seized Loose Papers Can Justify Section 69C Additions

Ramya Resorts Pvt. Ltd. Vs DCIT (ITAT Bangalore) ITAT Bangalore Upholds Section 69C Additions Based on Seized Material; ‘Dumb Document’ Plea Rejected The Bangalore Bench of the Income Tax Appellate Tribunal dismissed the appeals filed by Ramya Resorts Pvt. Ltd. for AYs 2014–15 and 2015–16, affirming additions made under Section 69C (unexplained expenditure) and Section 69 (unexplained investment) pursuant to proceedings under Section 153C following a search. For AY 2014–15, the Tribunal upheld the addition of ₹37.84 lakh as unexplained expenditure towards resort maintenance. The ad...