Summary
- The ITAT Mumbai has ruled that uncorroborated Excel data cannot sustain tax additions, emphasizing the need for independent verification.
- The case involved Shravan Kumar Harkaram Choudhary, whose business faced substantial additions under Sections 69, 69A, and 69C based on electronic material recovered during a search.
- The Tribunal found no evidence linking the entries in the Excel sheets to actual transactions or loans, leading to the deletion of major additions.
- This ruling underscores that mere recovery of digital files does not equate to proof of undisclosed income without corroborative evidence.
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