Tribunal Rules: Tax Additions Require Corroborative Evidence; Upholds Natural Justice in Diary-Based Assessments.

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....The Appellate Tribunal considered the legality of additions based on a diary seized from a third party. The Tribunal held that the presumption u/s 132(4A) of the Act applies to the person in possession of incriminating material and cannot be extended to a third party without corroborative evidence against the assessee. The failure to provide cross-examination opportunity to the assessee based on third party statements led to the deletion of the addition. The Tribunal also ruled in favor of the assessee regarding unexplained expenses on a mobile purchase and investments in vehicles. Addition of interest income and unexplained investments were deleted due to lack of supporting evidence. The Tribunal further deleted additions related to unexpl.........