Unexplained investment addition relying solely upon unverified excel sheet and loose sheet cannot be sustained

Tarun Nandkumar Seksaria Vs DCIT (ITAT Mumbai) ITAT Mumbai held that addition towards unexplained investment u/s. 69A/69B relying solely upon unverified excel sheet, loose sheet and uncorroborated statements, has traversed beyond the permissible confines of evidentiary inference. Accordingly, addition is liable to be deleted. Facts- The present appeal has been preferred by the assessee. The assessee is a part of the Sakseria Group of Companies. Assessee is a private limited company incorporated especially for acquisition of land in and around Dhokawade and Dapoli. The Assessee has been aggreg...