https://www.taxtmi.com/caselaws?id=771129 ITAT Ahmedabad deleted additions of brokerage income made by AO based on documents seized during search. The tribunal held that Revenue failed to provide corroborative evidence that assessee actually earned brokerage from transactions mentioned in seized materials including diaries, loose papers, and excel sheets. Additions cannot be made on conjectures without proper verification. Non-response to notices under section 133(6) alone insufficient for additions. AO failed to establish nexus between seized documents and actual brokerage earnings. Real estate brokerage income should be taxed as business receipts, not under section 69A. en-us Fri, 09 May 2025 00:00:00 +0530 Wed, 21 May 2025 08:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771129 ITAT Ahmedabad deleted additions of brokerage income made by AO based on documents seized during search. The tribunal held that Revenue failed to provide corroborative evidence that assessee actually earned brokerage from transactions mentioned in seized materials including diaries, loose papers, and excel sheets. Additions cannot be made on conjectures without proper verification. Non-response to notices under section 133(6) alone insufficient for additions. AO failed to establish nexus between seized documents and actual brokerage earnings. Real estate brokerage income should be taxed as business receipts, not under section 69A. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771129