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On-Money Additions Collapse: ITAT Deletes Sec 69 Additions Based on Third-Party Pen Drive
Case Law Details
- Case Name
- Krishna Mali Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Krishna Mali Vs ACIT (ITAT Mumbai)
On-Money Additions Collapse: ITAT Deletes Sec 69 Additions Based on Third-Party Pen Drive
The ITAT Mumbai deleted additions made under Section 69 towards alleged “on-money” cash payments for purchase of shops, holding that mere reliance on third-party statements and data found in a pen drive is insufficient without independent corroboration.
The additions were based on statements of a key employee of the builder group and Excel data recovered from his pen drive during a search. However, the Tribunal noted that no incriminating material was found from the ...
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