https://www.taxtmi.com/caselaws?id=460448 The ITAT Jaipur allowed the assessee's appeal, directing deletion of additions made under section 143(3) read with 153B(1)(b). The tribunal held that additions based solely on rough papers and retracted confessions without corroborative evidence violated established legal principles that suspicion cannot substitute proof. The AO's interpretation of documents lacking legal validity was deemed unsupported by cogent evidence. Additionally, the tribunal deleted disallowed expenses including JDA expenses and brokerage payments, finding them genuine and reasonable at 3% of sale consideration with proper documentation and PAN details of payees establishing identity and genuineness. en-us Tue, 12 Apr 2022 00:00:00 +0530 Fri, 24 Jan 2025 19:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460448 The ITAT Jaipur allowed the assessee's appeal, directing deletion of additions made under section 143(3) read with 153B(1)(b). The tribunal held that additions based solely on rough papers and retracted confessions without corroborative evidence violated established legal principles that suspicion cannot substitute proof. The AO's interpretation of documents lacking legal validity was deemed unsupported by cogent evidence. Additionally, the tribunal deleted disallowed expenses including JDA expenses and brokerage payments, finding them genuine and reasonable at 3% of sale consideration with proper documentation and PAN details of payees establishing identity and genuineness. Case-Laws Income Tax Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460448