https://www.taxtmi.com/caselaws?id=256403 Uncorroborated loose papers or seized notings cannot by themselves justify additions as undisclosed income or investment unless linked to a completed taxable transaction by supporting evidence, and such presumptive additions were deleted. Credit additions for loans claimed through banking channels were not fully sustained where identity, creditworthiness and genuineness were not adequately proved; some matters were remitted for fresh examination, and one addition was sustained for lack of evidence. Additional evidence first produced in appeal had to be verified by the Assessing Officer under Rule 46A, so that issue was remanded. The jewellery investment addition was upheld because the source was not satisfactorily explained. en-us Fri, 06 Feb 2015 00:00:00 +0530 Wed, 11 Feb 2015 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256403 Uncorroborated loose papers or seized notings cannot by themselves justify additions as undisclosed income or investment unless linked to a completed taxable transaction by supporting evidence, and such presumptive additions were deleted. Credit additions for loans claimed through banking channels were not fully sustained where identity, creditworthiness and genuineness were not adequately proved; some matters were remitted for fresh examination, and one addition was sustained for lack of evidence. Additional evidence first produced in appeal had to be verified by the Assessing Officer under Rule 46A, so that issue was remanded. The jewellery investment addition was upheld because the source was not satisfactorily explained. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256403