https://www.taxtmi.com/caselaws?id=192848 An addition under section 69 for alleged unaccounted investment and interest failed because the Revenue did not establish that the assessee was the person referred to in the seized papers. The material named only "Oswal Ashok" or "Oswal ASK", while no promissory notes, blank cheques, bank trail, or statement from the searched party linked the assessee to the transactions. The assessee's affidavit denied any connection, and the Assessing Officer's enquiries revealed multiple persons with similar names. In the absence of independent corroboration, the burden to prove identity and nexus remained unmet, so the addition was deleted. en-us Mon, 30 Sep 2013 00:00:00 +0530 Mon, 26 Jun 2017 17:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192848 An addition under section 69 for alleged unaccounted investment and interest failed because the Revenue did not establish that the assessee was the person referred to in the seized papers. The material named only "Oswal Ashok" or "Oswal ASK", while no promissory notes, blank cheques, bank trail, or statement from the searched party linked the assessee to the transactions. The assessee's affidavit denied any connection, and the Assessing Officer's enquiries revealed multiple persons with similar names. In the absence of independent corroboration, the burden to prove identity and nexus remained unmet, so the addition was deleted. Case-Laws Income Tax Mon, 30 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192848