https://www.taxtmi.com/caselaws?id=309203 Loose papers seized during search, without corroboration, are not sufficient by themselves to establish undisclosed income against a third party. The presumption under section 132(4A) of the Income-tax Act operates against the person from whose possession the documents are found, not against an assessee not in possession of them. Statements recorded behind the assessee's back cannot be relied on without affording cross-examination. As the Revenue produced no material to rebut the explanation or show perversity in the Tribunal's factual findings, deletion of the addition was justified. en-us Mon, 18 Jul 2016 00:00:00 +0530 Thu, 17 Aug 2023 07:45:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309203 Loose papers seized during search, without corroboration, are not sufficient by themselves to establish undisclosed income against a third party. The presumption under section 132(4A) of the Income-tax Act operates against the person from whose possession the documents are found, not against an assessee not in possession of them. Statements recorded behind the assessee's back cannot be relied on without affording cross-examination. As the Revenue produced no material to rebut the explanation or show perversity in the Tribunal's factual findings, deletion of the addition was justified. Case-Laws Income Tax Mon, 18 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309203