No Section 68 additions solely based on MOU found during search In Premises of Third Party

PCIT Vs Sh. Trilok Chand Choudhary (Delhi High Court) CASE LAW ON MOU FOUND IN PREMISES OF THIRD PARTY : ADDITIONS DELETED: PCIT v. Trilok Chand Choudhary – [2023] (Delhi) No Sec. 68 additions solely based on MOU found during search In Premises Of Third Party if assessee wasn’t even remotely connected to MOU. Assessee, an individual, filed its return of income for the relevant assessment year. A search operation was carried out on the premises of the assessee. During the search proceedings, a Memorandum of Understanding (MOU) for investment in property between two parties was found in ...