ITAT upholds Addition made u/s 69  on Unaccounted, Undisclosed Income on the basis of the Seized Loose Papers [Read Order]

ITAT - Unaccounted - Undisclosed Income - Seized Loose Papers - Loose Papers - Undisclosed Income on the basis of the Seized Loose Papers - ITAT upholds Addition - taxscan

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently upheld the addition made under Section 69 of the Income Tax Act 1961 on unaccounted, undisclosed income on the basis of the seized loose papers. Section 69 of the Income Tax Act states that if a taxpayer made an investment in a year which is…

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