Allowing the appeal of the assessee the Tribunal held that ; no addition under S.69 can be made in case of assessee on basis of documents being found from premises of third party where neither name of assessee was mentioned nor any document was found evidencing fact that assessee had paid any cash as on-money to said party for purchase of any property.(AY. 2007 -08 , 2010-11)
Regency Mahavir Properties v. ACIT (2018) 169 ITD 35/64 ITR 628 (Mum) (Trib.)
S. 69 :Unexplained investments – On money -No addition can be made on the basis of the documents found from premises of third party neither the name of assessee was mentioned nor any evidence was found for purchase of any property [ S. 132, 153A ]