Addition based on PEN drive data without checking its veracity is unsustainable

ACIT Vs Ramesh Kumar Mantri (ITAT Jaipur)

ITAT Jaipur held that addition solely on the basis of PEN drive found during the search proceedings, without checking the veracity/ reliability of the data recorded in the PEN drive, is unsustainable in law.

Facts-

The main issues involved in this case, as found by the AO in the assessment proceedings is long term capital gain income claimed by the assessee is considered as bogus for an amount of Rs. 11,96,03,020/- and added

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