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2019 (7) TMI 1880 - ITAT RAIPURAddition u/s 69 - addition of undisclosed investment in land made by the AO on the basis of seized material - whether corroborative material found during search? - HELD THAT:- In the case of Sahitya Housing (P) Ltd.[2014 (2) TMI 811 - ITAT HYDERABAD] some entries were found in a pen drive which pertained to two persons, one of whom accepted the entries and offered for taxation while the other did not do so. It was held that it is not substantiated by any corroborative evidence that the second assessee was involved in the transaction so as to make addition in the hands of the second assessee. In absence of corroborative evidence, the addition was held to be not justified. Addition made by the AO on account of purchase of 32.68 acres of land merely on the basis of the excel sheet contained in the seized pen drive and entries in loose papers in the seized documents, unsubstantiated with any corroborative evidence, is not justified, which has been rightly deleted by learned CIT(A) - Decided in favour of assessee.
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