Section 69 Addition sustained as documents seized was incriminating in nature

Devaram Srinivasa Reddy Vs DCIT (ITAT Hyderabad) ITAT Hyderabad held that addition under section 69 of the Income Tax Act towards unexplained investment sustained since documents seized is incriminating in nature. Accordingly, appeal of assessee dismissed. Facts- The assessee is an individual and proprietor of M/s. Srinivasa Infrastructures. A seizure and seizure operation was conducted in the case of M/s. RK Infracorp Private Limited and others on 06.02.2020 including M/s. Srinivasa Infrastructures and certain documents were found and seized. Based on the loose sheets, AO initiated the procee...