https://www.taxtmi.com/caselaws?id=765112 Loose sheets, impounded papers and rough notings, without corroborative material, were held insufficient to sustain additions for alleged on-money, unexplained money or unexplained expenditure. The assessee's explanation that the papers were estimate-based or preparatory was accepted because the registered sale deeds reflected the recorded transactions and the Revenue produced no independent evidence of cash payments, undisclosed consideration or actual expenditure. In the absence of effective contrary evidence or cross-examination to displace that explanation, the first appellate authority's deletions were upheld and the additions were not sustained. en-us Tue, 21 Jan 2025 00:00:00 +0530 Sat, 25 Jan 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765112 Loose sheets, impounded papers and rough notings, without corroborative material, were held insufficient to sustain additions for alleged on-money, unexplained money or unexplained expenditure. The assessee's explanation that the papers were estimate-based or preparatory was accepted because the registered sale deeds reflected the recorded transactions and the Revenue produced no independent evidence of cash payments, undisclosed consideration or actual expenditure. In the absence of effective contrary evidence or cross-examination to displace that explanation, the first appellate authority's deletions were upheld and the additions were not sustained. Case-Laws Income Tax Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765112