No Name, No Proof, No Cross-Examination: ITAT Quashes ‘On-Money’ Addition Based on Builder’s Excel Sheet

Pravin Khetaramm Purohit Vs DCIT (ITAT Mumbai) This case concerns additions made for alleged “on-money” cash payments towards purchase of a shop in Platinum Mall, a project developed by Rubberwala Group. Assessee purchased Shop No. 43 in October 2019 for ₹17.75 lakh, &  paid the entire amount through banking channels. Stamp duty was paid based on the higher market value determined by the Stamp Authority, indicating a fully disclosed transaction. During a search on Rubberwala Group, the department seized a pendrive containing excel sheets &  recorded statements of employees (not...