https://www.taxtmi.com/caselaws?id=460662 Repetitive entries in seized ledgers and diaries could not sustain additions where the same transaction appeared more than once, and the Revenue failed to link payments or expenditure to the assessee with enquiry or corroboration. In an unabated search assessment, additions based only on financial statements or assumptions, without incriminating seized material, were unsustainable, while primary evidence for unsecured loans remained unrebutted. Consequential interest disallowances also fell once the related quantum additions were deleted. Telescoping relief was allowed to the extent supported by the record, with one further telescoping claim remitted for reconsideration. en-us Fri, 22 Nov 2024 00:00:00 +0530 Sat, 08 Feb 2025 16:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460662 Repetitive entries in seized ledgers and diaries could not sustain additions where the same transaction appeared more than once, and the Revenue failed to link payments or expenditure to the assessee with enquiry or corroboration. In an unabated search assessment, additions based only on financial statements or assumptions, without incriminating seized material, were unsustainable, while primary evidence for unsecured loans remained unrebutted. Consequential interest disallowances also fell once the related quantum additions were deleted. Telescoping relief was allowed to the extent supported by the record, with one further telescoping claim remitted for reconsideration. Case-Laws Income Tax Fri, 22 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460662