ITAT Mumbai Deleted Section 69A Addition as Based Solely on Third-Party Statement

ITO Vs Kala Eswaran Iyr (ITAT Mumbai) The appeal before the ITAT Mumbai concerned whether an addition of ₹20,00,130 made under Section 69A read with Section 115BBE could be sustained solely on the basis of information from the Investigation Wing and a third-party statement recorded during search proceedings. The assessee, a practising anaesthetist, had filed a return declaring income of ₹48,87,520. Based on a search conducted under Section 132 in the case of an alleged accommodation entry provider, the Assessing Officer treated the assessee as a beneficiary and made the addition. The asses...