https://www.taxtmi.com/caselaws?id=239628 ITAT Hyderabad-AT held that additions for alleged unaccounted investment in property were unsustainable, as the Revenue relied only on loose papers and third-party statements without corroborative material. The Tribunal reiterated that suspicion, however strong, cannot substitute evidence and that undisclosed income in block assessment must be based on material found during search. Addition on amount received from assessee's father was deleted, treating it as a genuine gift arising out of natural love and affection in line with established SC principles on gifts between close relatives. However, addition relating to an unexplained loan from a third party was sustained. The assessee's appeal was partly allowed. en-us Thu, 31 Mar 2011 00:00:00 +0530 Tue, 17 Mar 2026 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239628 ITAT Hyderabad-AT held that additions for alleged unaccounted investment in property were unsustainable, as the Revenue relied only on loose papers and third-party statements without corroborative material. The Tribunal reiterated that suspicion, however strong, cannot substitute evidence and that undisclosed income in block assessment must be based on material found during search. Addition on amount received from assessee's father was deleted, treating it as a genuine gift arising out of natural love and affection in line with established SC principles on gifts between close relatives. However, addition relating to an unexplained loan from a third party was sustained. The assessee's appeal was partly allowed. Case-Laws Income Tax Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239628