No addition based solely on a third-party document denied by assessee

Rana Iqbal Singh Vs ITO (ITAT Amritsar) Conclusion: Where the only piece of evidence, AO possessed was the ‘Iqrarnama’, which was not found in the assessee’s possession, was not in their handwriting, and did not bear their genuine signatures, no addition could be made to the assessee’s income, treating it as unexplained money and interest. Held: During a survey conducted at the premises of a third party, AO found a document, an ‘Iqrarnama’ (a form of agreement or declaration). This document alleged that the assessee had advanced a loan of ₹53 lakhs to a person named VK and ha...