ITAT Deletes Section 69 Addition as Seized Loose Document Lacked Corroborative Evidence

RSWM Ltd. Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi Bench, disposed of cross-appeals filed by the assessee and the Revenue for Assessment Years (AYs) 2014-15 and 2015-16. The appeals involved issues relating to disallowance under Section 14A read with Rule 8D, addition under Section 69 for alleged unexplained investment, deductibility of education cess, and the tax treatment of various subsidies received by the assessee. For AY 2014-15, the assessee challenged the disallowance of ₹81,01,633 under Section 14A, the addition of ₹1,52,45,000 under Section 69 towards ...