Addition set aside as relation between documents seized from third party & assessee not established

Colourful Estates Pvt. Ltd. Vs DCIT (ITAT Delhi)

ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed to tie contact between seized material and the assessee company. Accordingly, appeal allowed and addition deleted.

Facts- A search and seizure action u/s. 132 together with survey proceedings u/s. 133A were conducted at the residential as well as business/office premises of Antriksh Group including residential premises of Shri Rakesh Kumar Yadav on 05.02.2014. In search operations,

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