On-Money Addition Fails Without Corroborative Evidence: ITAT Delhi

Om Prakash Gupta Vs D/ACIT (ITAT Delhi) ITAT Delhi Deletes ‘On-Money’ Addition u/s 69: Seized Page Relates to Son, No Corroborative Evidence The Delhi Bench (Dehradun) of the ITAT allowed the assessee’s appeal for AY 2023-24 and deleted the addition of ₹57.97 lakh sustained by the CIT(A) under section 69 towards alleged undisclosed investment (“on-money”). The addition was based on a seized document   found during a search in a group case. The Tribunal noted that the seized page clearly bore the name of the assessee’s son, Manoj Gupta, and the entries pertained to him and his f...