Seizure of share certificate not incriminating material hence addition deleted: ITAT Delhi

DCIT Vs Pioneer Finest Limited (ITAT Delhi) ITAT Delhi held that merely seizure of share certificate cannot be considered as incriminating material on its own unless other corroborative evidence are found during the search. Accordingly, appeal of the department dismissed. Facts- Department has preferred the present appeal. It is contended that the additions have been made based on the original copies of share certificates allotted by the Assessee Company which were found at the premises of P. Minda Group Company instead of investor Company premises and the Ld. A.O. made addition based on the s...