Income Additions Unjustified Without Corroborative Evidence in Section 153A Assessments; Jottings Insufficient for Proof.

Income Additions Unjustified Without Corroborative Evidence in Section 153A Assessments; Jottings Insufficient for Proof. https://www.taxtmi.com/highlights?id=62346 Assessment u/s 153A - Addition based on jottings in rough sheets found in search - When the jottings in rough sheets are not in themselves capable of expressing or describing the essence of the transaction the way AO has deciphered them especially without corroborative evidence of parties attributed to the transaction, and when there is no material to show nexus between the assessee herein and the alleged transactions, no addition to the income can be justifiably made - AT en-us Tue, 08 Mar 2022 11:39:32 +0530 Tue, 08 Mar 2022 11:39:32 +0530 TaxTMI RSS Generator Income Additions Unjustified Without Corroborative Evidence in Section 153A Assessments; Jottings Insufficient for Proof. https://www.taxtmi.com/highlights?id=62346 Assessment u/s 153A - Addition based on jottings in rough sheets found in search - When the jottings in rough sheets are not in themselves capable of expressing or describing the essence of the transaction the way AO has deciphered them especially without corroborative evidence of parties attributed to the transaction, and when there is no material to show nexus between the assessee herein and the alleged transactions, no addition to the income can be justifiably made - AT Highlights Income Tax Tue, 08 Mar 2022 11:39:32 +0530 https://www.taxtmi.com/highlights?id=62346