https://www.taxtmi.com/caselaws?id=460625 ITAT Delhi held that reopening of assessment was unjustified where addition was made solely based on statement recorded during search without supporting seized material. The Tribunal found no prior finding or direction allowing taxation of surrendered amount as undisclosed income. Since individuals' cases required seized material to substantiate additions, same principle applied to appellant company. AO's reopening and addition of undisclosed income was not justified without corroborating seized documents. Appeal decided against revenue. en-us Mon, 06 Nov 2023 00:00:00 +0530 Thu, 06 Feb 2025 18:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460625 ITAT Delhi held that reopening of assessment was unjustified where addition was made solely based on statement recorded during search without supporting seized material. The Tribunal found no prior finding or direction allowing taxation of surrendered amount as undisclosed income. Since individuals' cases required seized material to substantiate additions, same principle applied to appellant company. AO's reopening and addition of undisclosed income was not justified without corroborating seized documents. Appeal decided against revenue. Case-Laws Income Tax Mon, 06 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460625