ITAT Deletes Addition Due to Absence of Evidence Supporting Excel Sheet Entry

Anupama Gupta Vs ITO (ITAT Chandigarh) Addition Based on Multiplying Rs. 8,000 by 100 Quashed Due to Lack of Supporting Material; ITAT Removes Unexplained Investment Addition Because Cash Payment Allegation Was Unsubstantiated; Excel Sheet Found During Search Not Sufficient to Prove Cash Payment; ITAT Holds Suspicion Cannot Replace Evidence in Section 69 Addition Case  The Income Tax Appellate Tribunal (ITAT), Chandigarh, allowed the assessee’s appeal and deleted an addition of Rs. 8,00,000 made under Section 69 of the Income Tax Act on account of alleged cash payment for purchase of a f...