Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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of The ITAT held that additions based on loose papers/documents found during search at the assessee's premises without further corroboration would be contrary to judicial precedents. The circumstantial evidence did not contradict the assessee's assertions. Despite the search, no irregularities like excess cash or unaccounted assets were discovered. The adverse view by the AO and CIT(A) based solely on the loose papers appeared abstract without substantiation. The onus to prove the allegations lies with the Revenue, and the assessee cannot be burdened to prove a negative. Absence of supporting material, the assessee's denial, and their social status raised doubts favoring the assessee.
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