Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
ITAT allowed the appellant's appeal, setting aside the AO's and CIT(A)'s additions under s.69 (undisclosed investment/payment for land and house construction) and the consequent taxation under s.115BBE. The Tribunal held that the AO lacked material to discredit the books of account, that admissions in the search statement were not conclusive and were rebutted by contemporaneous documentary and bank evidence, and that the Department failed to discharge the onus under s.69 or make independent inquiries. The findings of AO/CIT(A) were quashed and the matter remitted with a direction to delete the impugned additions.
ITAT allowed the appellant's appeal, setting aside the AO's and CIT(A)'s additions under s.69 (undisclosed investment/payment for land and house construction) and the consequent taxation under s.115BBE. The Tribunal held that the AO lacked material to discredit the books of account, that admissions in the search statement were not conclusive and were rebutted by contemporaneous documentary and bank evidence, and that the Department failed to discharge the onus under s.69 or make independent inquiries. The findings of AO/CIT(A) were quashed and the matter remitted with a direction to delete the impugned additions.
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