Section 69A Addition Cannot Survive Merely on Ground That Explanation Was an Afterthought: ITAT Delhi

Rakesh Aggarwal Vs DCIT (ITAT Delhi) ITAT Deletes Addition on Alleged Bonus Income Due to Absence of Accrual or Receipt; Search-Based Addition Quashed as No Evidence Proved Legal Right to Receive Commission Income; ITAT Grants Relief on Seized Cash After Accepting Evidence Supporting Land Purchase Transactions; ITAT Holds Hypothetical Bonus Calculations Not Taxable Without Evidence of Actual Accrual. The Income Tax Appellate Tribunal (ITAT), Delhi decided cross appeals filed by the assessee and the Revenue against the order of the Commissioner of Income Tax (Appeals)-23, Delhi relating to Asse...