₹100 Crore U/s 153A Addition Quashed: Seized Third-Party Paper Not Incriminating for Completed Year

DCIT Vs Gaurav Dalmia (ITAT Delhi) For AY 2016-17, the assessee’s original scrutiny assessment had already been completed under section 143(3) in 2018, making it an unabated year on the date of search in March 2021. In the subsequent section 153A assessment, the AO added ₹100 crore under section 69A based on a loose sheet (Annexure A-1, page 14) seized not from the assessee but from the residence of an employee, treating entry no. 31 (“Others – 100,00,00,000”) as alleged cash received on sale of shares. The Tribunal held that although material found from a third person can be conside...