https://www.taxtmi.com/caselaws?id=779545 ITAT, Chennai (AT) upheld the CIT(A) and set aside additions made under s.153C/s.69 that were based solely on loose seized sheets found at a third party's premises. The Tribunal held the AO could not make assessments by conjecture; the seized notes lacked requisite details and were "dumb" documents without corroboration proving cash loans or interest payments. No evidence was found in the assessee's possession to show funds were advanced, so the additions were unsustainable. en-us Wed, 22 Jan 2025 00:00:00 +0530 Wed, 08 Oct 2025 08:45:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779545 ITAT, Chennai (AT) upheld the CIT(A) and set aside additions made under s.153C/s.69 that were based solely on loose seized sheets found at a third party's premises. The Tribunal held the AO could not make assessments by conjecture; the seized notes lacked requisite details and were "dumb" documents without corroboration proving cash loans or interest payments. No evidence was found in the assessee's possession to show funds were advanced, so the additions were unsustainable. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779545