Addition U/s 69 for alleged on-money deleted – No corroborative evidence denial of cross-examination violates natural justice – ITAT Mumbai

Bharti Jayanti Jain Vs ACIT (ITAT Mumbai) In Bharti Jayanti Jain vs ACIT (A.Ys. 2017-18 to 2019-20), additions were made u/s 69 based on alleged on-money payments for purchase of shops in a mall project, relying mainly on statements and excel data found during search in the Rubberwala Group. The assessee contended that no incriminating material was provided, no independent evidence existed, and opportunity for cross-examination was denied. The ITAT observed that the additions were solely based on third-party statements and electronic data recovered during search on another party, without any c...