https://www.taxtmi.com/caselaws?id=464126 ITAT AHMEDABAD held that additions under section 153C based on third-party books showing alleged on-money payments are unsustainable. Relying on HC precedent, the tribunal found the assessee need not explain source where it denies any such payment or investment to the third party. Consequently, the additions made by the lower authorities were deleted. en-us Tue, 26 Nov 2024 00:00:00 +0530 Mon, 06 Oct 2025 20:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464126 ITAT AHMEDABAD held that additions under section 153C based on third-party books showing alleged on-money payments are unsustainable. Relying on HC precedent, the tribunal found the assessee need not explain source where it denies any such payment or investment to the third party. Consequently, the additions made by the lower authorities were deleted. Case-Laws Income Tax Tue, 26 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464126