https://www.taxtmi.com/caselaws?id=177189 A carried-forward opening cash balance cannot be treated as unexplained cash credit or unexplained investment in the later year merely because it appears as an opening balance, since it is not a fresh entry in the year under consideration. Additions based solely on loose papers, scribblings or diary notings, without independent corroboration, are not sustainable as undisclosed land investment where the seized material does not by itself prove the actual consideration or extra payment. In the absence of supporting evidence and examination of the vendor, the Revenue cannot establish the alleged undisclosed transaction, and the additions were deleted. en-us Wed, 23 Apr 2014 00:00:00 +0530 Tue, 05 Jan 2016 11:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177189 A carried-forward opening cash balance cannot be treated as unexplained cash credit or unexplained investment in the later year merely because it appears as an opening balance, since it is not a fresh entry in the year under consideration. Additions based solely on loose papers, scribblings or diary notings, without independent corroboration, are not sustainable as undisclosed land investment where the seized material does not by itself prove the actual consideration or extra payment. In the absence of supporting evidence and examination of the vendor, the Revenue cannot establish the alleged undisclosed transaction, and the additions were deleted. Case-Laws Income Tax Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177189