AdvertisementDCIT Vs Anbuchezhian (ITAT Chennai) Chennai ITAT: Loose Diary Entries Alone Cannot Justify Additions Without Independent Corroboration The Chennai ITAT dismissed the Revenue’s appeals and upheld the CIT(A)’s order deleting additions made solely on the basis of handwritten diary entries and loose sheets seized during a search conducted on a film financier. The Tribunal held that uncorroborated rough diary notings, without any supporting evidence of actual transactions, cannot form the sole basis for making additions under the Income-tax Act. The assessee had admitted undisclosed inc...