https://www.taxtmi.com/caselaws?id=353201 Additions for alleged unaccounted interest income and unexplained investment in a money-lending business cannot be sustained on the basis of third-party seized entries alone unless corroborative evidence establishes a clear identity link and live nexus with the assessee. Abbreviated or distorted names in seized material, without promissory notes, blank cheques, security documents, or other independent proof, are insufficient to attribute cash transactions to the assessee. Suspicion and resemblance of names cannot replace proof. The additions were set aside on the existing material, with liberty to re-examine the seized records and make additions only if cash transactions are found in the assessee's name in accordance with law. en-us Fri, 08 Dec 2017 00:00:00 +0530 Fri, 29 Dec 2017 08:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353201 Additions for alleged unaccounted interest income and unexplained investment in a money-lending business cannot be sustained on the basis of third-party seized entries alone unless corroborative evidence establishes a clear identity link and live nexus with the assessee. Abbreviated or distorted names in seized material, without promissory notes, blank cheques, security documents, or other independent proof, are insufficient to attribute cash transactions to the assessee. Suspicion and resemblance of names cannot replace proof. The additions were set aside on the existing material, with liberty to re-examine the seized records and make additions only if cash transactions are found in the assessee's name in accordance with law. Case-Laws Income Tax Fri, 08 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353201