https://www.taxtmi.com/caselaws?id=408351 Uncorroborated loose-sheet and scribbling-pad notings were treated as insufficient to support additions for alleged on-money, unexplained expenditure, or undisclosed assets. The note records that, for section 69C, actual expenditure must first be shown before source can be questioned; mere estimates or rough entries do not establish liability without independent evidence. It also notes that cash and jewellery found in search may be explained through admitted income, company funds, streedhan, gifts, or telescopic adjustment, and such explanations should not be rejected absent contrary material. The stated principle is that additions cannot rest solely on unverified papers. en-us Mon, 24 May 2021 00:00:00 +0530 Mon, 07 Jun 2021 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408351 Uncorroborated loose-sheet and scribbling-pad notings were treated as insufficient to support additions for alleged on-money, unexplained expenditure, or undisclosed assets. The note records that, for section 69C, actual expenditure must first be shown before source can be questioned; mere estimates or rough entries do not establish liability without independent evidence. It also notes that cash and jewellery found in search may be explained through admitted income, company funds, streedhan, gifts, or telescopic adjustment, and such explanations should not be rejected absent contrary material. The stated principle is that additions cannot rest solely on unverified papers. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408351