Allowing the appeal the Tribunal held that on the basis of loose papers found in the third party premises addition cannot be made for alleged cash payment without giving an opportunity of cross examination. Presumption under section 132 (4) cannot be applied to making addition in respect of third party when the documents were not seized from the premises of third party. (AY. 2013-14)
Kantibhai P. Patel v. Dy.CIT (2021) 85 ITR 317 (Ahd.)(Trib.) Chhotalal P. Patel v. Dy.CIT (2021) 85 ITR 317 (Ahd.)(Trib.)
S. 153C : Assessment-Income of any other person-Search Presumption operates only against person from whose possession document found-Loose paper-Statement of person against whom search conducted-Cross examination not allowed-Addition is held to be not justified. [S. 132(4A), 292C]