No Addition u/s 69A if name of Assessee was not mentioned in seized documents

Mahesh Narayan Joglekar Vs DCIT (ITAT Mumbai) Conclusion: Additions made under section 69A against assessee for Assessment Years (AYs) 2011-12 to 2018-19 was deleted as proceedings initiated on the basis of seized documents which did not mention assessee’s name were unsustainable. Held: Search was conducted on 6 October 2017 at the premises of Evergreen Enterprises and its associates. Revenue alleged that Joglekar had advanced unaccounted cash loans of ₹30 lakh through Evergreen Enterprises and earned interest thereon. Based on this information, AO reopened AY 2011-12 and further made add...