Addition towards undisclosed income purely based on post-dated cheques not sustained: ITAT Delhi

ACIT Vs Swapna Mohan (ITAT Delhi)

ITAT Delhi held that addition towards undisclosed income merely on the basis of conjectures cannot be sustained in the eye of law. Further, also held that addition purely based on post-dated cheques cannot be sustained.

Facts- A search action was carried out by the Economic Offence Wing CID, Bangalore on 05.08.2015 on M/s PSIK Finance Solutions Pvt. Ltd. group. Based upon that, search u/s 132A of the Income-tax Act, 1961 was also carried out on the residential premises of the assessee on 08.08.2015. As per AO, various materi

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