Seized Papers Showing Cash Payment Treated as Credible Evidence

Advertisement Vasanthi Bijjala Vs ACIT (ITAT Hyderabad) Registered Sale Deed Doesn’t Wipe Out Prior Cash Deal Indicators- Unsigned But Unignored: ITAT Upholds Addition Based on Stamped Seized Agreement Assessee filed return declaring income of Rs.6,77,340. Pursuant to search u/s 132 on Spectra Group, unsigned but stamped loose sheets showing a development agreement dated 31.12.2019 were seized. These recorded alleged cash payment of Rs.60 lakhs by the purchaser, with Assessee’s share at 3.51% (Rs.2,10,600). AO initiated proceedings u/s 153C, treated this amount as unexplained money u/s ...