https://www.taxtmi.com/caselaws?id=354364 Additions under deeming provisions in search assessments cannot rest on untested statements, suspicion, or loose papers without corroborative material establishing a direct nexus to undisclosed income. Cash deposits were deleted where a confirmation showed the bank account belonged to a third party and the Revenue did not supply the relied-upon statement for cross-examination. The major part of the household-expense estimate under section 69C was also reduced because the factual basis on family size was not proved. Alleged excess stock of gold and silver, and rough loose-paper entries, were likewise rejected for want of reliable incriminating evidence. The appellate deletions were upheld and the Revenue's appeals were dismissed. en-us Wed, 17 Jan 2018 00:00:00 +0530 Thu, 25 Jan 2018 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354364 Additions under deeming provisions in search assessments cannot rest on untested statements, suspicion, or loose papers without corroborative material establishing a direct nexus to undisclosed income. Cash deposits were deleted where a confirmation showed the bank account belonged to a third party and the Revenue did not supply the relied-upon statement for cross-examination. The major part of the household-expense estimate under section 69C was also reduced because the factual basis on family size was not proved. Alleged excess stock of gold and silver, and rough loose-paper entries, were likewise rejected for want of reliable incriminating evidence. The appellate deletions were upheld and the Revenue's appeals were dismissed. Case-Laws Income Tax Wed, 17 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354364