https://www.taxtmi.com/caselaws?id=446941 Unsigned loose sheets treated as mere estimates, without proof of authorship or independent corroboration, were held insufficient to sustain an addition for unexplained investment under section 69. The seized papers were regarded as a dumb document, and the DVO estimate alone could not establish actual unaccounted expenditure or deployment of undisclosed funds. The assessee's first year of incorporation and absence of commenced business activity further weakened the inference that unexplained investments had been made. The additions under section 69 were therefore unsustainable and were deleted. en-us Fri, 06 Oct 2023 00:00:00 +0530 Thu, 14 Dec 2023 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446941 Unsigned loose sheets treated as mere estimates, without proof of authorship or independent corroboration, were held insufficient to sustain an addition for unexplained investment under section 69. The seized papers were regarded as a dumb document, and the DVO estimate alone could not establish actual unaccounted expenditure or deployment of undisclosed funds. The assessee's first year of incorporation and absence of commenced business activity further weakened the inference that unexplained investments had been made. The additions under section 69 were therefore unsustainable and were deleted. Case-Laws Income Tax Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446941