https://www.taxtmi.com/caselaws?id=776565 ITAT Mumbai allowed the appeal against addition under section 69A where diary entries seized from a third party were relied upon. The diary, recovered from a third party's residence, contained cash transaction notations with a reference to "PP," initially attributed to the assessee but later retracted under cross-examination. The tribunal held that diary entries without the assessee's name and lacking corroborative evidence cannot sustain an addition. Essential conditions under section 69A-possession of unaccounted money or valuables by the assessee-were absent. With the key witness's statement discredited and no direct evidence linking the assessee to the seized material, the addition was unsustainable. The appeal was allowed. en-us Thu, 31 Jul 2025 00:00:00 +0530 Wed, 13 Aug 2025 07:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776565 ITAT Mumbai allowed the appeal against addition under section 69A where diary entries seized from a third party were relied upon. The diary, recovered from a third party's residence, contained cash transaction notations with a reference to "PP," initially attributed to the assessee but later retracted under cross-examination. The tribunal held that diary entries without the assessee's name and lacking corroborative evidence cannot sustain an addition. Essential conditions under section 69A-possession of unaccounted money or valuables by the assessee-were absent. With the key witness's statement discredited and no direct evidence linking the assessee to the seized material, the addition was unsustainable. The appeal was allowed. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776565