https://www.taxtmi.com/caselaws?id=340545 An addition for alleged on-money receipts was held unsustainable where it rested only on a loose sheet found during survey. The ITAT found that the sheet did not clearly identify the assessee's project, did not match the actual flat configuration, and was not supported by buyer examination or any independent corroboration of cash over and above declared sale consideration. Mere suspicion, market perception, or an unverified loose paper could not justify enhancement of business receipts. The document was treated as a dumb document, and the addition for alleged unaccounted receipts was deleted. en-us Tue, 14 Feb 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340545 An addition for alleged on-money receipts was held unsustainable where it rested only on a loose sheet found during survey. The ITAT found that the sheet did not clearly identify the assessee's project, did not match the actual flat configuration, and was not supported by buyer examination or any independent corroboration of cash over and above declared sale consideration. Mere suspicion, market perception, or an unverified loose paper could not justify enhancement of business receipts. The document was treated as a dumb document, and the addition for alleged unaccounted receipts was deleted. Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340545