https://www.taxtmi.com/caselaws?id=759430 ITAT DELHI allowed the appeal and deleted all additions made against the assessee based on loose papers found during search operations. The tribunal found that loose papers discovered at another person's residence could not be attributed to the assessee without establishing clear connection. The AO failed to correlate the notings with the assessee's income sources or business activities. Since the assessee had no regular income or identified business, while the other person operated a proprietorship concern, the tribunal concluded the loose papers related to the other person's business transactions. All additions under various sections were deleted as they lacked proper nexus with the assessee. en-us Wed, 25 Sep 2024 00:00:00 +0530 Mon, 30 Sep 2024 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759430 ITAT DELHI allowed the appeal and deleted all additions made against the assessee based on loose papers found during search operations. The tribunal found that loose papers discovered at another person's residence could not be attributed to the assessee without establishing clear connection. The AO failed to correlate the notings with the assessee's income sources or business activities. Since the assessee had no regular income or identified business, while the other person operated a proprietorship concern, the tribunal concluded the loose papers related to the other person's business transactions. All additions under various sections were deleted as they lacked proper nexus with the assessee. Case-Laws Income Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759430