Addition based only on loose paper is unsustainable

Solitare World Pvt. Ltd Vs ACIT (ITAT Delhi) Loose paper found during search on standalone could not be used as a basis for making the addition without the company of any other supportive material and evidence. Facts- A search and survey operation u/s 132/133A was carried out on 15.10.2013 in SRM group of eases by the Investigation Wing, New Delhi. Simultaneously, a survey was carried out on M/s Shree Raj Mahal Jewellers Ltd., M/s PLB Infrastructure Pvt. Ltd., M/s Shree Raj Mahal Diamonds Pvt. Ltd., at 2633 & 2634, Bank Street, Karol Bagh, New Delhi wherein papers/documents related to M/s ...