Loose Sheet Found from Third Party Cannot Justify Section 69C Addition: ITAT Delhi

DCIT Vs Shally Thapar (ITAT Delhi) Loose Sheet Found from Third Party Cannot Justify Section 69C Addition: ITAT Delhi Dismisses Revenue Appeals The Delhi Bench of the ITAT dismissed four appeals filed by the Revenue and upheld the deletion of additions made under section 69C on account of alleged cash payment of interest by the assessee. The additions were based solely on a loose computation sheet found during search proceedings at the premises (car) of a third party. The Tribunal held that no presumption under sections 132(4A) or 292C can be drawn against an assessee for documents seized from...