Additions Based on Third-Party Ledger Deleted – Identity Not Proved & No Independent Enquiry – Revenue Appeal Dismissed; Reopening Upheld – ITAT Ahmedabad

ACIT Vs Satyanarayan Jagannath Kabra (ITAT Ahmedabad) Additions Based on Third-Party Ledger Deleted – Identity Not Proved & No Independent Enquiry – Revenue Appeal Dismissed; Reopening Upheld – ITAT Ahmedabad The AO made additions of ₹8.05 Cr as alleged unaccounted cash receipts and ₹2.50 lakh as commission income based on a ledger found during survey in the case of M/s HJM Group, assuming that “Satubhai Kabra” mentioned therein referred to the assessee. CIT(A) deleted the additions holding that the AO failed to correlate the seized material with the assessee or establish any...