Case Law Analysis
|Income Tax Appellate Tribunal
Section 69C Income Tax Act | Unexplained Expenditure Must Be Corroborated by Banking Evidence, Not Just Seized Documents: ITAT Delhi
ITAT Delhi sets a critical precedent: unexplained expenditure under Section 69C cannot be added solely based on seized documents if the assessee proves transactions through banking channels. The ruling mandates direct evidence linking cash payments to unexplained income, offering relief to taxpayers facing arbitrary additions during search and seizure assessments.