The Assessing Officer made addition on the basis of loose papers recovered from third party premises. CIT(A) deleted the addition which was affirmed by the Tribunal. On appeal High court affirmed the order of tribunal. Referred CBI v. V.C. Shukla (1998) 3 SCC 410. (AY.2011-12)
PCIT v. Ganesh Plantation Ltd. (2022) 441 ITR 123 / 285 Taxman 35 / 326 CTR 751 / 213 DTR 352 (Guj.)(HC)
S. 68 : Cash credits-Search-Loose papers-Recovered from third party-Addition is not valid.