https://www.taxtmi.com/caselaws?id=369545 Loose sheets recovered in search, if clear and legible, can be treated as documents evidencing cash and cheque payments in a property transaction. Where the assessee repeatedly admitted the on-money payment before the assessing authority, a later retraction made after substantial delay may be treated as vague and an afterthought. On those facts, the material was sufficient to sustain an addition for unexplained investment under section 69 without further corroboration, and the earlier survey-statement ruling under section 133A was held inapplicable. The challenge to the addition therefore failed. en-us Wed, 10 Oct 2018 00:00:00 +0530 Tue, 30 Oct 2018 10:05:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369545 Loose sheets recovered in search, if clear and legible, can be treated as documents evidencing cash and cheque payments in a property transaction. Where the assessee repeatedly admitted the on-money payment before the assessing authority, a later retraction made after substantial delay may be treated as vague and an afterthought. On those facts, the material was sufficient to sustain an addition for unexplained investment under section 69 without further corroboration, and the earlier survey-statement ruling under section 133A was held inapplicable. The challenge to the addition therefore failed. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369545