https://www.taxtmi.com/caselaws?id=424697 Uncorroborated seized computer data, diary entries and retracted third-party statements were held insufficient to sustain an addition for undisclosed income where no clear nexus with the assessee was proved. The material did not identify the assessee by name, nor establish the date, mode or source of any alleged payment, and the witnesses denied any cash payment in search and remand proceedings. On these facts, the addition was based only on presumptive inferences from third-party material and could not fasten tax liability on the assessee. The deletion of the addition was upheld in favour of the assessee. en-us Thu, 07 Apr 2022 00:00:00 +0530 Thu, 07 Jul 2022 09:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424697 Uncorroborated seized computer data, diary entries and retracted third-party statements were held insufficient to sustain an addition for undisclosed income where no clear nexus with the assessee was proved. The material did not identify the assessee by name, nor establish the date, mode or source of any alleged payment, and the witnesses denied any cash payment in search and remand proceedings. On these facts, the addition was based only on presumptive inferences from third-party material and could not fasten tax liability on the assessee. The deletion of the addition was upheld in favour of the assessee. Case-Laws Income Tax Thu, 07 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424697