Section 69C additions on protective basis without adequate inquiry is bad in law

A. Johnkuma Vs DCIT (ITAT Chennai)

Facts- The assessee, a Proprietor of M/s. A.Johnkumar Cost Price Shop and M/s.Johnkumar Real Agency, is engaged in the business of running a Departmental Store and real estate business respectively. A search and seizure operation was conducted u/s.132 of the Act, on 17.09.2016. During the course of search, a sum of Rs.1,70,65,190/- cash and some incriminating documents with regard to sale of land involving on money and also conduct of unregistered and unaccounted chits and moneylending business, was fo

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