Addition based on documents seized from other company premises not sustainable if documents not belongs to assessee

Ekdanta Land Pvt. Ltd. Vs ITO (ITAT Pune) Conclusion – Papers seized fro the premises of Group Company could not be relied upon for making additions in the hands of the assessee whose names appeared in the said documents. Facts – Search u/s 132 was initiated in the Jai Corp Group and the search resulted into seizure of various incriminating evidences, documents, loose papers etc. and documents revealed details of land transaction in 62 companies and the assessee is one amongst them. AO invoked provisions of section 69C and made addition of INR 3.84 Crore as unexplained expenditure. Held â€...