No On-Money Addition based on Unsubstantiated Excel Sheets: ITAT Mumbai

Mamta Sharad Gupta Vs ITO (ITAT Mumbai) ITAT Deletes On-Money Addition Because Builder’s Statement Lacked Corroborative Evidence;  Section 147 Addition Quashed Because Revenue Failed to Prove Alleged Cash Payment for Flat Purchase;  ITAT Rules Statement Under Section 132(4) Cannot Be Used Against Third Party Without Corroboration;  Addition for Alleged On-Money Payment Deleted Because Electronic Evidence Was Not Properly Proved The Income Tax Appellate Tribunal (ITAT), Mumbai, allowed the appeal of the assessee and deleted the addition of ₹10.52 lakh made in reassessment proceedings...