AdvertisementVikas Kailashchandra Gupta Vs ITO (ITAT Mumbai) Mumbai ITAT: No Addition for Alleged On-Money Solely on Builder’s Statement Without Corroborative Evidence The Mumbai ITAT deleted an addition of ₹7.24 lakh made in the hands of a flat purchaser, holding that an alleged on-money payment cannot be taxed merely on the basis of a builder’s statement recorded during a search and documents seized from the builder, in the absence of any independent corroborative evidence against the purchaser. The assessee had jointly purchased a flat in the Cosmos Group’s “Horizon TwiliteR...