No Addition Without Corroboration for Common Names on Seized Papers

Pradeep Amrutlal Runwal Vs Tax Recovery Officer (ITAT Pune) Income Tax Appellate Tribunal (ITAT), Pune Bench, has set aside an addition of Rs. 5.10 crore to the income of Pradeep Amrutlal Runwal. The addition was made by the Assessing Officer (AO) based on loose papers seized during a search operation at the premises of the Dhariwal Group. The tribunal’s decision, pronounced on May 30, 2014, underscored the lack of corroborative evidence and the misapplication of legal presumptions, reaffirming that mere notations on documents found with a third party are insufficient to establish income...