“Kalra Ji” on Loose Papers Not Enough: ITAT Deletes ₹1.2 Cr Addition for Lack of Evidence

Ashish Kalra Vs ACIT (ITAT Delhi) ITAT DELHI deletes addition of alleged cash receipts – no evidence, contradictions in statements, earlier year accepted- Loose Papers & “Kalra Ji” Not Enough! ITAT Quashes ₹1.20 Cr Cash Receipt Addition & Even Deletes ₹5 Lakh Enhancement Assessee was a faculty member teaching CA students for Bright Professional Pvt. Ltd. A search took place in Bright Group & loose papers (Annexure A-29 & A-30) allegedly showed cash paid to “Kalra ji”. On this basis, AO reopened u/s 147 & added ₹1.20 crore as undisclosed cash receipts. CIT(A)...