https://www.taxtmi.com/caselaws?id=378125 Loose papers seized from a third party could not sustain an addition for unexplained cash payment where the documents did not bear the assessee's name, signatures, date, or any express reference to cash. The appellate authority and the Tribunal held that the inference of cash payment was based on conjecture and interpolation, not on the contents of the papers or corroborating evidence. Applying the settled principle that loose sheets without supporting material are not conclusive proof of undisclosed income, the addition was held unsustainable. The High Court further found that these concurrent factual findings did not give rise to a substantial question of law. en-us Tue, 19 Feb 2019 00:00:00 +0530 Mon, 08 Apr 2019 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378125 Loose papers seized from a third party could not sustain an addition for unexplained cash payment where the documents did not bear the assessee's name, signatures, date, or any express reference to cash. The appellate authority and the Tribunal held that the inference of cash payment was based on conjecture and interpolation, not on the contents of the papers or corroborating evidence. Applying the settled principle that loose sheets without supporting material are not conclusive proof of undisclosed income, the addition was held unsustainable. The High Court further found that these concurrent factual findings did not give rise to a substantial question of law. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378125