Statement Without Cross-Examination: ITAT Mumbai Deletes Section 69A Addition of ₹1.69 Cr

DCIT Vs Parth Ajit Pawar (ITAT Mumbai) ITAT Mumbai Deletes ₹1.69 Cr Addition u/s 69A: Statement without cross-examination not valid evidence ITAT Mumbai upheld the deletion of a ₹1.69 crore addition made u/s 69A in the case of Parth Ajit Pawar, holding that the sole reliance on a third-party statement, later retracted, without corroborating evidence, cannot justify taxing the amount as unexplained money. A search was conducted on DB Realty Group & associated entities, including Daund Sugar Pvt. Ltd., where a diary was recovered from one Shri Sagar Shah.  The diary had entries indicati...