₹6.40 Crore Addition Deleted as Revenue Failed to Corroborate Seized Document

PCIT Vs Tarun Kumar Goyal (Telangana High Court) The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribunal (ITAT) dated 20.04.2021 for the Assessment Year 2016-17. The Revenue questioned the Tribunal’s decision deleting an addition of ₹6,40,00,000 that had been made on the basis of material seized during a search under Section 132. Background of the Casevs The respondent, an individual assessee, was assessed under Section 143(3) read with Section 153A following search and seizure operations conducted i...