Dumb documents cannot be used alone to assess undisclosed income

RSWM Ltd. Khari Gram Vs DCIT (ITAT Delhi) Undisclosed Income Addition Overturned Due to Unverified Documents, Education Cess Not Allowed as Deductible Business Expense, FPS/FMS Subsidies Treated as Capital Receipts, Not Taxable Income, TUFS and RIPS Interest Subsidies Exempt from Taxation ITAT Delhi ruled that uncompleted project estimates seized during search cannot form the sole basis for addition under Section 69. The decision emphasizes the need for corroborative evidence before claiming undisclosed income. It further held that education cess is an additional surcharge and cannot be claime...