Addition on third-party information without corroborative evidence is unsustainable

Dr. Sreenivasulu Reddy Ponnaluru Vs ACIT (ITAT Bangalore) ITAT Bangalore held that addition merely on the basis of third-party information, without any corroborative evidence, gathered by the Investigation Wing of the Department is unsustainable in law. Facts- The assessee is an ENT specialist having consultancy at Apollo Hospital, Chennai. The case was reopened pursuant to receipt of certain information from investigation wing which was based on data obtained by the department during search action on M/s Apollo Hospital Group coupled with statement of G. Subhadra, Manager. A sworn statement w...