https://www.taxtmi.com/caselaws?id=259212 Additions based only on third-party seized papers were held unsustainable where the documents were not found from the assessee's possession or books and no corroborative material linked the assessee to the alleged transactions. The Court accepted the concurrent factual finding that the third party denied authorship of the loose sheets and denied any cash dealings with the assessee or related entities. Presumptions under the Income-tax Act relating to seized material could not be invoked against a stranger to the documents without independent supporting evidence, so the Revenue's challenge failed and no substantial question of law arose. en-us Tue, 21 Apr 2015 00:00:00 +0530 Mon, 04 May 2015 06:43:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259212 Additions based only on third-party seized papers were held unsustainable where the documents were not found from the assessee's possession or books and no corroborative material linked the assessee to the alleged transactions. The Court accepted the concurrent factual finding that the third party denied authorship of the loose sheets and denied any cash dealings with the assessee or related entities. Presumptions under the Income-tax Act relating to seized material could not be invoked against a stranger to the documents without independent supporting evidence, so the Revenue's challenge failed and no substantial question of law arose. Case-Laws Income Tax Tue, 21 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259212