https://www.taxtmi.com/caselaws?id=754871 ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal held that additions based on diary entries seized from third parties cannot be made without corroborative evidence, as Section 132(4A) presumption applies only to persons from whose possession documents are seized. The same income cannot be taxed twice when already assessed in the original possessor's case. The tribunal deleted additions for unexplained expenditures on mobiles, vehicles, marriage expenses, and foreign currency purchases, finding adequate documentary evidence and proper recording in statement of affairs. Additions based on loose sheets without corroborative evidence were also deleted as they constituted dumb documents lacking essential details. en-us Fri, 28 Jun 2024 00:00:00 +0530 Mon, 01 Jul 2024 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754871 ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal held that additions based on diary entries seized from third parties cannot be made without corroborative evidence, as Section 132(4A) presumption applies only to persons from whose possession documents are seized. The same income cannot be taxed twice when already assessed in the original possessor's case. The tribunal deleted additions for unexplained expenditures on mobiles, vehicles, marriage expenses, and foreign currency purchases, finding adequate documentary evidence and proper recording in statement of affairs. Additions based on loose sheets without corroborative evidence were also deleted as they constituted dumb documents lacking essential details. Case-Laws Income Tax Fri, 28 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754871