ITAT Upholds No Additions Without Evidence, Loose Sheets Insufficient

Mohammed Ibrahim Mohideen Vs ACIT (ITAT Bangalore) Loose Sheets & Confession Not Enough – ITAT Bangalore Deletes Additions in Kasargod Builder’s Case These six appeals by Mohammed Ibrahim Mohideen, a Kasargod-based real estate developer, arose from search assessments u/s 153A/144 for AYs 2013-14 to 2018-19.  AO had made huge additions u/s 69B on the basis of loose sheets, rough notings & sworn statements recorded u/s 132(4), treating them as unexplained investments in land purchases & business income. CIT(A) had confirmed the additions. AY 2013-14 (ITA 485/Bang/2024) AO made a...