Addition u/s 69C based on dumb document is unsustainable

DCM Shriram Industries Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that addition under section 69C of the Income Tax Act towards unexplained expenditure based on dumb documents not sustainable in law. Facts- A search and seizure u/s 132 of the Act took place on the office premises of Radico Khaitan and Survey u/s 133A on UPDA offices. A search was also carried out at the residence of one Shri R.K. Miglani, who was the Honorary Secretary of UPDA. The statement of Shri R.K. Miglani was recorded u/s 132(4) of the Act. These documents which were seized from the residential and office premises of UPDA...