Held that merely on the basis of manual register with details of loan which was seized in search addition cannot be made on basis of presumption. As regards rental income which is offered to tax, addition is deleted.(AY. 2012-13 to 2020-21)
Kiran Pal Singh v. Dy. CIT (2024) 115 ITR 33 (SN)(Delhi)(Trib)
S. 56 : Income from other sources-Interest-Manual register with details of loan is seized in search-Addition cannot be made on basis of presumption-Rental income is offered to tax-Addition is deleted. [S. 69, 132(4A). [S. 69A, 69C, 131(IA), 132, 132(4A), 153C]