https://www.taxtmi.com/caselaws?id=437026 Unexplained cash addition was deleted because the cash books and sister concern records showed a higher recorded cash balance than the cash found, and the Revenue produced no contrary material to disprove the explanation. The section 14A read with Rule 8D disallowance was confined to the exempt dividend income, since the assessee had earned dividend income and made a self-disallowance, so the larger computed amount was not sustained. Share loss disallowance treated as penny stock loss was also deleted because contract notes, ledger accounts and broker records supported the transactions, while suspicion and general information without cogent evidence could not rebut the books or establish bogus dealings. en-us Mon, 24 Apr 2023 00:00:00 +0530 Tue, 25 Apr 2023 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437026 Unexplained cash addition was deleted because the cash books and sister concern records showed a higher recorded cash balance than the cash found, and the Revenue produced no contrary material to disprove the explanation. The section 14A read with Rule 8D disallowance was confined to the exempt dividend income, since the assessee had earned dividend income and made a self-disallowance, so the larger computed amount was not sustained. Share loss disallowance treated as penny stock loss was also deleted because contract notes, ledger accounts and broker records supported the transactions, while suspicion and general information without cogent evidence could not rebut the books or establish bogus dealings. Case-Laws Income Tax Mon, 24 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437026