Sale Deed Alone Cannot Justify Tax Addition as It Is Not Incriminating Material: ITAT Delhi

DCIT Vs Mehfooz Khan (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, dismissed the Revenue’s appeal and upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)] deleting additions made under Sections 69 and 153A of the Income-tax Act for Assessment Year 2018-19. The Tribunal held that the additions were not supported by incriminating material found during the search. The case arose from a search and seizure operation conducted under Section 132 in the Tyagi Group on 16 May 2018, during which the assessee was also covered. Following the search, the Assessing Off...