On-Money Payment Addition Quashed as Excel Sheet & Third-Party Statements Found Unreliable

Dimple Shailesh Jain Vs DCIT (ITAT Mumbai) The ITAT Mumbai adjudicated a group of appeals involving identical issues arising from search and seizure proceedings conducted on the Rubberwala Group on 17.03.2021. During the search, statements of key individuals, including an employee handling shop sales in “Platinum Mall,” were recorded, and an Excel sheet containing alleged cash and cheque transactions was retrieved from a pen drive. Based on this material, proceedings were initiated under Section 153C against various assessees, including the present case, where the assessee had purchased a ...