3/4th of demand raised by I-T after searches not upheld, says CAG

A report by the Comptroller and Auditor General found that an undisclosed income of Rs 19,108.30 crore unearthed during searches did not sustain at appellate stage in 2018-19.
 

This was because additions were made related to transactions based on the documents found, which were disclosed by the assessee. Additions were made on assumptions and in the assessment year other than the relevant year.

 

Further, provisions and sections under which additions were made were not clearly mentioned in the order.