No Evidence of Cash Receipt: ITAT Deletes Addition of Rs.2.5 Crore due to Lack of Corroborative Proof

The ITAT deleted an addition of ₹1 crore, citing no evidence of cash receipt and a lack of corroborative proof. The tribunal found that the Assessing Officer had made the addition based on suspicion without providing any concrete evidence of the alleged cash transaction. The ITAT emphasized the need for corroborative evidence to support such additions to income, ruling against additions made solely on assumptions or doubts. This decision underscores the importance of evidence-based assessments in tax matters.