Summary
- The ITAT Agra has allowed Babita Verma's appeal, deleting an addition of Rs 9,75,000 as unexplained investment under Section 69 of the Income-tax Act, 1961.
- The Revenue's claim relied on an Excel sheet from a search on Omaxe group, which did not mention Verma's name or any cash payment.
- The Tribunal highlighted that statements used against Verma were not provided for her rebuttal or cross-examination, violating due process.
- This ruling underscores the importance of robust evidence and fair procedures in tax assessments, potentially impacting similar cases.
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