https://www.taxtmi.com/caselaws?id=761824 ITAT Chennai deleted additions made under sections 69 and 69C regarding unexplained investments and cash expenditure. The revenue relied on loose sheets found during search proceedings, but the tribunal held these were "dumb documents" lacking evidentiary value as they contained only approximate project expenses without basic details like dates, payees, or payment sources. The assessee had already admitted additional income from search proceedings in earlier years, and all expenses were properly recorded in books. Without corroborative evidence establishing actual unaccounted cash payments, the additions were deemed arbitrary and unsustainable. en-us Wed, 09 Oct 2024 00:00:00 +0530 Fri, 15 Nov 2024 12:20:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761824 ITAT Chennai deleted additions made under sections 69 and 69C regarding unexplained investments and cash expenditure. The revenue relied on loose sheets found during search proceedings, but the tribunal held these were "dumb documents" lacking evidentiary value as they contained only approximate project expenses without basic details like dates, payees, or payment sources. The assessee had already admitted additional income from search proceedings in earlier years, and all expenses were properly recorded in books. Without corroborative evidence establishing actual unaccounted cash payments, the additions were deemed arbitrary and unsustainable. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761824