ITAT Delhi Deletes On-Money Addition for Misapplication of Section 153C

Rachita Sahga Vs ACIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) Delhi has set aside tax additions of ₹42.94 lakh each for Rachita Sahgal and Vivek Sahgal, citing improper application of Section 153C of the Income Tax Act, 1961. The cases stemmed from a search operation conducted on January 3, 2018, targeting the M/s Navneet Dawar group. The Revenue contended that incriminating material found during the search “belonged” to the Sahgals, indicating “on-money” payments in property transactions, leading to identical additions in their assessments for Assessmen...