https://www.taxtmi.com/caselaws?id=408351 Uncorroborated loose-sheet and scribbling-pad entries cannot alone establish undisclosed consideration or unexplained expenditure. Additions for alleged on-money payments require independent material showing payment beyond registered sale consideration. Section 69C applies only where actual expenditure is proved and its source remains unexplained; estimates based on informal notings are insufficient. Cash and jewellery found during search may not be treated as unexplained where explanations based on company funds, previously admitted income, streedhan, gifts, or telescoping are plausible and unrebutted. The Revenue must produce contrary evidence to displace such explanations. 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 entries cannot alone establish undisclosed consideration or unexplained expenditure. Additions for alleged on-money payments require independent material showing payment beyond registered sale consideration. Section 69C applies only where actual expenditure is proved and its source remains unexplained; estimates based on informal notings are insufficient. Cash and jewellery found during search may not be treated as unexplained where explanations based on company funds, previously admitted income, streedhan, gifts, or telescoping are plausible and unrebutted. The Revenue must produce contrary evidence to displace such explanations. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408351