https://www.taxtmi.com/caselaws?id=262248 Cash payments made on Sundays were protected by the exception for payments when banking facilities were unavailable, so the disallowance under section 40A(3) was deleted. Cash deposits were not treated as unexplained where the assessee filed affidavits and confirmations from lenders, most lenders were examined and supported the loans, and the Revenue failed to disprove that evidence; the addition was therefore not sustained. The alleged excess investment in property under section 69B was partly explained by stamp-paper expenditure and personal cash savings, so the partial relief granted at first appeal was upheld. Credible affidavits and confirmations discharge the initial burden unless the Revenue makes meaningful contrary inquiry. en-us Fri, 31 Jul 2015 00:00:00 +0530 Thu, 06 Aug 2015 06:44:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262248 Cash payments made on Sundays were protected by the exception for payments when banking facilities were unavailable, so the disallowance under section 40A(3) was deleted. Cash deposits were not treated as unexplained where the assessee filed affidavits and confirmations from lenders, most lenders were examined and supported the loans, and the Revenue failed to disprove that evidence; the addition was therefore not sustained. The alleged excess investment in property under section 69B was partly explained by stamp-paper expenditure and personal cash savings, so the partial relief granted at first appeal was upheld. Credible affidavits and confirmations discharge the initial burden unless the Revenue makes meaningful contrary inquiry. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262248