https://www.taxtmi.com/caselaws?id=773088 The ITAT Ahmedabad dismissed the Revenue's appeals regarding additions under Section 69 read with Section 115BBE for unexplained investment in stock based on seized documents. The AO made additions solely relying on a third party's statement without confronting the assessee, despite the assessee producing ledger accounts showing regular recorded transactions. The AO improperly rejected books of account without following Section 145(3) provisions and failed to establish any nexus between alleged cash sales and the assessee. The CIT(A)'s deletion of additions was upheld as no party admitted the seized documents related to unaccounted purchases. en-us Wed, 30 Apr 2025 00:00:00 +0530 Wed, 18 Jun 2025 09:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773088 The ITAT Ahmedabad dismissed the Revenue's appeals regarding additions under Section 69 read with Section 115BBE for unexplained investment in stock based on seized documents. The AO made additions solely relying on a third party's statement without confronting the assessee, despite the assessee producing ledger accounts showing regular recorded transactions. The AO improperly rejected books of account without following Section 145(3) provisions and failed to establish any nexus between alleged cash sales and the assessee. The CIT(A)'s deletion of additions was upheld as no party admitted the seized documents related to unaccounted purchases. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773088