LTCG Addition Quashed as Revenue Relied Solely on Uncorroborated Third-Party Diary Entries

Ramesh Rajpal Vs DCIT (ITAT Delhi) ITAT Deletes LTCG Addition Because Seized Diary Was Held Unreliable in Related Cases; ITAT Allows Appeal After Finding No Fresh Inquiry Conducted Following High Court Remand; ITAT Rejects Addition on Alleged Asola Land Sale Due to Lack of Evidentiary Support; Addition Based on Third-Party Seized Material Set Aside Following Final Relief to Co-Seller. The appeal concerned an addition of Rs. 39,32,850 made to the income of Ramesh Rajpal (HUF) for Assessment Year 1994-95 on account of alleged long-term capital gains arising from the sale of land at Village Asola...