Mechanical Approval & Loose Papers Can’t Justify Additions – ITAT Delhi Deletes All Additions

Adrem India (P) Ltd. Vs DCIT (ITAT Delhi) Loose Papers Can’t Be Sole Evidence: ITAT Deletes Additions Based on “Approximate” Handwritten Note; Search Assessment Vitiated: Mechanical Approval & Uncorroborated Statement Cannot Justify Additions; ITAT Deletes Estimated Profit Addition: Absence of Corroboration for Unaccounted Sales Alleged in Search; Delhi ITAT Follows High Court: Mechanical Approval for Reopening Vitiates Jurisdiction for Search Additions. Search u/s 132 at the Assessee’s premises led to seizure of a handwritten note allegedly showing unaccounted cash recei...