ITAT Chandigarh Deletes “On-Money” Addition – Third-Party Digital Data Insufficient Without Corroboration

Home Construction Co. Vs DCIT (ITAT Chandigarh) ITAT deleted addition of ₹1.17 crore sustained by CIT(A) towards alleged “on-money” received on sale of flats, holding that the entire addition was based solely on digital data and documents seized from a third-party broker (Sh. Ravi Kapoor) and not from the assessee. Tribunal observed that third-party documents, without corroborative material or independent enquiry from buyers, cannot justify addition, especially when no incriminating material was found from the assessee’s premises. Relying on earlier Chandigarh Bench rulings and the dec...