https://www.taxtmi.com/caselaws?id=314236 ITAT Cuttack confirmed CIT(A)'s deletion of additions made by AO based on seized materials. The assessment violated natural justice principles as foundation documents (BDJC-27 and CWJ-12 extracts) were unavailable to department and not provided to assessee for rebuttal. The appraisal report containing gold/silver stock computations lacked supporting seized materials and showed inconsistent figures including negative stock without basis. Revenue failed to produce seized materials or stock statements from search date to substantiate additions across three assessment years. ITAT held additions were made on estimate basis without proper foundation, confirming CIT(A)'s order in assessee's favor. en-us Mon, 26 Sep 2022 00:00:00 +0530 Mon, 27 May 2024 16:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314236 ITAT Cuttack confirmed CIT(A)'s deletion of additions made by AO based on seized materials. The assessment violated natural justice principles as foundation documents (BDJC-27 and CWJ-12 extracts) were unavailable to department and not provided to assessee for rebuttal. The appraisal report containing gold/silver stock computations lacked supporting seized materials and showed inconsistent figures including negative stock without basis. Revenue failed to produce seized materials or stock statements from search date to substantiate additions across three assessment years. ITAT held additions were made on estimate basis without proper foundation, confirming CIT(A)'s order in assessee's favor. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314236