https://www.taxtmi.com/caselaws?id=292220 Search material and statements supported telescoping and peak-credit working for several disputed additions arising from jewellery, cash advances, on-money payments, RTGS entries, alleged investor income and expenses, because the material showed recycled funds, current-account transactions and corresponding receipts rather than separate taxable income. The Tribunal therefore accepted the deletions and limited relief granted by the CIT(A), while sustaining only the unrebutted balance where specific entries were not explained. It sustained the unexplained cash of Rs. 4,89,863 found during search, as the cash difference was not reconciled with reliable books-based material. It also sustained the balance addition of Rs. 40,66,860 from share-profit noting, since the assessee failed to identify the other beneficiary or substantiate that amount with cogent evidence. en-us Thu, 03 Oct 2019 00:00:00 +0530 Sat, 12 Dec 2020 07:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292220 Search material and statements supported telescoping and peak-credit working for several disputed additions arising from jewellery, cash advances, on-money payments, RTGS entries, alleged investor income and expenses, because the material showed recycled funds, current-account transactions and corresponding receipts rather than separate taxable income. The Tribunal therefore accepted the deletions and limited relief granted by the CIT(A), while sustaining only the unrebutted balance where specific entries were not explained. It sustained the unexplained cash of Rs. 4,89,863 found during search, as the cash difference was not reconciled with reliable books-based material. It also sustained the balance addition of Rs. 40,66,860 from share-profit noting, since the assessee failed to identify the other beneficiary or substantiate that amount with cogent evidence. Case-Laws Income Tax Thu, 03 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292220