Addition based on rough notes with corroborative evidence sustained

Rakesh Natwarlal Thakkar Vs DCIT (ITAT Mumbai) ITAT Mumbai held that addition towards unaccounted cash receipts on the basis of seized documents i.e. rough notes duly supported with corroborative evidence sustained. Facts- The assessee was engaged in construction of real estate project namely “Aainaz Avenue” through his proprietary concern namely M/s SV Group Builders and Developers. The assessee was also running another proprietary concern namely M/s R.N. Traders, which was engaged in wholesale trading of food grain. For the year under consideration, the assessee filed return of income el...