No Addition Based on Loose Papers Found in Search and Seizure: MP HC

PCIT Vs Pukhraj Soni (Madhya Pradesh High Court) The case of PCIT vs Pukhraj Soni, heard in the Madhya Pradesh High Court, revolves around the appeal filed by the Principal Commissioner of Income Tax-I, Indore. The appeal challenges the order dated 21.9.2016 passed in Income Tax Appellate Tribunal in I.T.A. No.585/Ind/2015 for the assessment year 2009-10. Background: The respondent-assessee, Mr. Pukhraj Soni, filed his return of income for the assessment year 2009-10 on 29.9.2009, declaring a total income of Rs.2,05,230/-. Subsequently, a search operation was conducted by the Investigation Win...