ITAT Ahmedabad Sustains 69C Additions Based on Seized Diaries with Running Ledger

Mukesh Mohanlal Vaghela Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad: Seized Diaries with Running Ledger Held Conclusive—Additions u/s 69C Sustained; Revenue Succeeds on Interest for AY 2020-21 The Income Tax Appellate Tribunal dismissed a batch of eight appeals filed by the assessee for AYs 2013-14 to 2020-21 and allowed the Revenue’s appeal for AY 2020-21, upholding substantial additions based on seized diaries recovered during search in the Ratnamani Group cases. The Tribunal held that the handwritten diaries seized from Shri Prakash M. Sanghvi, containing a distinct, continuous running ledg...