Addition u/s. 69 based on excel sheet seized from third party without independent enquiry untenable

ACIT Vs Yerra Rajesh (ITAT Visakhapatnam) ITAT Vishakhapatnam held that addition u/s. 69 r.w.s. 115BBE of the Income Tax Act merely on the basis of excel sheet seized from third party without any independent enquiry and independent corroborative evidences is unsustainable in law. Facts- Assessee filed his return of income for the A.Y. 2022-23. Thereafter, a search and seizure operation u/s. 132 of the Act was conducted in the group cases of M/s. Meenakshi Agro Chemicals on21.12.2022. Based on search, it was observed that the assessee has involved in financial transactions with all the four bro...