ITAT Deletes Additions Based Solely on Third-Party Seized Tally Data

Surya Prakash Kacham Vs DCIT (ITAT  Hyderabad) Income Tax Appellate Tribunal Deletes Additions Based Solely on Third-Party Seized Tally Data & Unsigned JDA Entries Hyderabad ITAT Deletes Additions Based on Third-Party Tally Data – Unsigned JDA Entries & No Cash Trail, No Tax u/s 56 The Hyderabad ITAT deleted additions of ₹50 lakh and ₹3.49 crore made u/s 56, holding that mere Tally data and loose documents seized from the premises of a developer cannot justify additions in the hands of the assessee without independent corroborative evidence. The Tribunal noted that the assessee ...