https://www.taxtmi.com/caselaws?id=761328 ITAT Visakhapatnam upheld CIT(A)'s decision deleting addition of on-money payment for property purchase. AO relied solely on Excel sheet seized from third party premises without establishing nexus to assessee. Document contained no assessee name or property details. AO failed to provide corroborative evidence linking assessee to alleged cash transactions or conduct independent inquiry. No incriminating material seized from assessee's premises. Addition deleted as unsupported by evidence establishing assessee's involvement in on-money payment. en-us Tue, 05 Nov 2024 00:00:00 +0530 Thu, 07 Nov 2024 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761328 ITAT Visakhapatnam upheld CIT(A)'s decision deleting addition of on-money payment for property purchase. AO relied solely on Excel sheet seized from third party premises without establishing nexus to assessee. Document contained no assessee name or property details. AO failed to provide corroborative evidence linking assessee to alleged cash transactions or conduct independent inquiry. No incriminating material seized from assessee's premises. Addition deleted as unsupported by evidence establishing assessee's involvement in on-money payment. Case-Laws Income Tax Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761328