https://www.taxtmi.com/caselaws?id=465077 ITAT Delhi-AT allowed the assessee's appeal, holding that the Rs. 5 crore addition made in regular assessment u/s 143(3) for AY 2012-13 was invalid. The alleged undisclosed payment, based solely on an email seized from a third party and a statement recorded u/s 132(4), could only be examined in separate proceedings u/s 153C, not in a regular assessment for the year of search. The Tribunal further held that, on merits, there was no corroborative evidence of the alleged payment to the counterparty; the statement stood effectively retracted, and the AO failed to obtain independent confirmation. The addition was quashed and deleted. en-us Mon, 08 Apr 2024 00:00:00 +0530 Thu, 04 Dec 2025 19:01:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465077 ITAT Delhi-AT allowed the assessee's appeal, holding that the Rs. 5 crore addition made in regular assessment u/s 143(3) for AY 2012-13 was invalid. The alleged undisclosed payment, based solely on an email seized from a third party and a statement recorded u/s 132(4), could only be examined in separate proceedings u/s 153C, not in a regular assessment for the year of search. The Tribunal further held that, on merits, there was no corroborative evidence of the alleged payment to the counterparty; the statement stood effectively retracted, and the AO failed to obtain independent confirmation. The addition was quashed and deleted. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465077