https://www.taxtmi.com/caselaws?id=219011 Supported explanations backed by contemporaneous documents and confirmations were accepted for three income-tax additions. The land purchase amount was treated as explained because the sale deed contained only a typographical date error and cheque payment evidence, the assessee's statement, and the payer's confirmation supported the transaction. The transfer from the brother's loan account to capital account was held outside section 41(1) because the waiver was recorded by a signed, witnessed, and notarised gift memorandum from an NRI brother, with the factual basis undisputed. The ring ceremony gifts were also treated as explained, as the surrounding records and customary nature of such gifts supported the credit. en-us Fri, 20 Jul 2012 00:00:00 +0530 Sat, 22 Sep 2012 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219011 Supported explanations backed by contemporaneous documents and confirmations were accepted for three income-tax additions. The land purchase amount was treated as explained because the sale deed contained only a typographical date error and cheque payment evidence, the assessee's statement, and the payer's confirmation supported the transaction. The transfer from the brother's loan account to capital account was held outside section 41(1) because the waiver was recorded by a signed, witnessed, and notarised gift memorandum from an NRI brother, with the factual basis undisputed. The ring ceremony gifts were also treated as explained, as the surrounding records and customary nature of such gifts supported the credit. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219011