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2015 (12) TMI 958 - AT - Income TaxSearch and seizure action u/s.132 - addition u/s 69 - Held that:- Presumption u/s. 132(4A) is available only against the person from whose possession the document is found and not against the third person. In the absence of clinching evidence against the third person as stated above, no action could be taken against him. In such a situation, the Assessing Officer was not justified to make addition in question in assessee’s case. In view of above, we are of the view that the addition made by the Assessing Officer is not justified and the same is directed to be deleted. It is pertinent to mention here that this case is being decided in its facts and circumstances; it cannot be applied to other cases as such. - Decided in favour of assessee
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