Section 153C Proceedings Fail Without Assessee-Specific Evidence

Mukesh Jain Vs ACIT (ITAT Indore) ITAT Indore Deletes Section 69 Additions in 153C Assessments; Dumb Documents and Denial of Cross-Examination Fatal The Indore Bench of the ITAT allowed the assessee’s appeals for AYs 2014-15 and 2015-16, deleting additions of ₹2 lakh and ₹1 lakh respectively made under section 69 in proceedings initiated under section 153C pursuant to a search on the MRJ Group. The additions were based on loose papers/hundies seized from the premises of a third party, alleging cash loans advanced by the assessee. The Tribunal found that the seized documents did not belon...