No Independent Enquiry, No Addition: ITAT Sets Aside ₹5.50 Lakh u/s 69A

Bipin Agarwal Vs ACIT (ITAT Delhi)  Delhi ITAT Deletes ₹5.50 Lakh Addition u/s 69A: No Cash Found, Third-Party Seized Ledger Not Enough The Delhi Bench ‘B’ of the ITAT allowed the appeal of  holding that addition of ₹5,50,000 u/s 69A cannot be sustained merely on the basis of third-party seized documents when no cash was found in the possession of the Assessee during search. The case arose from a search u/s 132 on CFM Group of Companies, wherein certain tally ledgers (“BCM/Porwal”) allegedly reflected commission payment of ₹5,50,000 to the Assessee. Relying solely on these seiz...