Mere Loose Notings Without Corroboration Cannot Justify Unaccounted Income

Lalithaa Jewellery Mart Ltd. Vs DCIT (ITAT Chennai) Mere Loose Notings Without Corroboration Cannot Justify Unaccounted Income- ITAT Chennai Deletes Additions on “MD Sheet” Chennai ITAT delivered a consolidated order in six appeals filed by a leading South Indian jewellery retailer with nearly sixty showrooms, against assessments framed for AYs 2016-17 to 2021-22. The assessments had been completed pursuant to a search conducted u/s 132 on 04.03.2021, triggering proceedings u/s 153A. Earlier, the Madras High Court, by order dated 11.11.2022, had set aside the initial assessments & dire...