https://www.taxtmi.com/caselaws?id=764512 ITAT Ahmedabad held that addition of unexplained on-money paid to developer cannot be sustained solely based on excel-sheet found during third-party search and developer's confession to Settlement Commission. Court ruled that corroborative evidence was required beyond third-party data and admission, especially given assessee's complete denial. Despite developer's admission of receiving on-money, denial of cross-examination opportunity made the addition unsustainable. Addition deleted in favor of assessee. en-us Thu, 09 Jan 2025 00:00:00 +0530 Fri, 10 Jan 2025 19:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764512 ITAT Ahmedabad held that addition of unexplained on-money paid to developer cannot be sustained solely based on excel-sheet found during third-party search and developer's confession to Settlement Commission. Court ruled that corroborative evidence was required beyond third-party data and admission, especially given assessee's complete denial. Despite developer's admission of receiving on-money, denial of cross-examination opportunity made the addition unsustainable. Addition deleted in favor of assessee. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764512