No addition can be made on Absence of Corroborative and Supporting Evidence regarding Satakat found during survey of Third Party Business Premises: ITAT

Mukesh Agarwal Vs ITO (ITAT Surat) The  Surat bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made on absence of corroborative and supporting evidence regarding satakat found during  survey of third party business premises When a search action was conducted on the premises of one Vasudev Goplani, Advocate, wherein unsigned satakat in the name of assessee,  Mukesh Agarwal and purchases of immovable property was found. On the said satakat the consideration of property was allegedly recorded at Rs.59 lakhs, however, the sale consideration shown by asse...