Addition towards unexplained receipts based on seized dairies sustained

Om Sai Infrapromoters Pvt. Ltd. Vs DCIT (Delhi High Court) Delhi High Court held that addition towards unexplained receipts based on seized dairies justifiable as diaries were found to record receipts of bookings of flats. Accordingly, appeal dismissed. Facts- At the material time Search and Seizure operations were conducted under Section 132 of the Act in respect of the aforesaid two entities including at the premises of Kaushalya Residency Girls Hostel. During the course of the search, certain diaries were found and seized. The said diaries contained certain entries which AO found reflected ...