Tribunal held that if the documents seized did not show any income earned by the assessee, then the Assessing Officer could not rest on the provision of section 292C without bringing any corroborative material on record. Further, the Assessing Officer did not examine the buyers of the property with respect to the commission paid by them to the assessee. Even the assessee was also not questioned during the course of search with respect to these three letters. There was no income accrued to the assessee based on these three documents, without bringing any corroborative material, it could not have been taxed in the hands of the assessee. ( AY.2010-11)
Summit Mittal and Madhur Mittal v Dy. CIT (2020) 79 ITR 607 ( Delhi) (Trib)
S. 153A : Assessment – Search-Assessment of third person — Sale Of Property — Commission —Addition made without examining the buyer of property is held to be bad in law . [ S.292C ]