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Section 69A Addition Invalid When Based Only on undated Third-Party Loose Papers
Case Law Details
- Case Name
- Air Con Systems (India) Pvt. Ltd Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Delhi
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Air Con Systems (India) Pvt. Ltd Vs DCIT (ITAT Delhi)
ITAT Delhi deletes ₹62 lakh addition u/s 69A – Undated loose paper found in third-party search, no cash found, no corroboration & even wrong assessment year
A search was conducted in the case of Sanjay Jain & Mehtas Group on 26.10.2020 & again on 11.02.2021. During this action, a loose sheet (page 46 of Annexure A-7 from FCB-1) was found not from the assessee, but from the residence of a third party, Shri Surender Gupta. The AO presumed that handwritten notings such as “CASH ANTH HR” & “CASH ANTH YOG” represented...
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