Third-Party Software Entries Alone Cannot Justify Section 69 Addition: ITAT The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) on 15 May deleted an addition of Rs 16.05 lakh made under Section 69 of the Income-tax Act, 1961, holding that uncorroborated third-party digital data and general statements recorded during search proceedings cannot, by themselves,…
ITAT Restricts Stock Addition to Rs. 19.46 Lakh; Survey Working Found Inflated The assessee, a jeweller trading as Sharada Jewellers, was subjected to survey on 02.08.2017. During the survey, physical stock of gold and silver jewellery was inventorised and compared with the book stock computed on provisional figures, as the return for AY 2017-18 had…
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