No addition based on Unsigned Draft Agreement Found on Third Party’s Hard Disk Without Corroboration

News Builders and Developers Pvt Ltd Vs ITO (ITAT Delhi) The appeal before the Delhi Bench of the Income Tax Appellate Tribunal Delhi concerned Assessment Year 2009–10 and arose from an order passed by the National Faceless Appeal Centre confirming a reassessment made under Section 147 and an addition of ₹1.01 crore under Section 69 of the Income-tax Act, 1961. The assessee had originally filed its return declaring a loss, which was processed under Section 143(1). Subsequently, the assessment was reopened based on information received from another Assessing Officer following a search condu...