https://www.taxtmi.com/caselaws?id=761328 Unexplained-income additions based on seized third-party documents require a demonstrable nexus between the material and the assessee, along with corroborative evidence of actual payment. A seized Excel sheet that did not identify the assessee, the property, or any direct cash trail, and statements of sellers unaccompanied by independent proof, were insufficient to support an addition under section 69 read with section 115BBE. Suspicion alone and material found at third-party premises could not discharge the Revenue's burden. The appellate deletion of the alleged on-money addition was upheld. en-us Tue, 05 Nov 2024 00:00:00 +0530 Thu, 07 Nov 2024 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761328 Unexplained-income additions based on seized third-party documents require a demonstrable nexus between the material and the assessee, along with corroborative evidence of actual payment. A seized Excel sheet that did not identify the assessee, the property, or any direct cash trail, and statements of sellers unaccompanied by independent proof, were insufficient to support an addition under section 69 read with section 115BBE. Suspicion alone and material found at third-party premises could not discharge the Revenue's burden. The appellate deletion of the alleged on-money addition was upheld. Case-Laws Income Tax Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761328