https://www.taxtmi.com/caselaws?id=772099 ITAT Ahmedabad held that addition under section 69A based solely on third-party survey information without corroborative evidence is unsustainable. Revenue failed to establish assessee's ownership of alleged unexplained cash loans through hundis, providing no material evidence including hundi copies, loan records, or statements. The addition was mechanical and arbitrary, lacking proper confrontation of evidence or opportunity for rebuttal. CBDT Circular requirements for establishing ownership and conducting due inquiry were not satisfied. Appeal decided against revenue. en-us Tue, 01 Apr 2025 00:00:00 +0530 Wed, 04 Jun 2025 08:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772099 ITAT Ahmedabad held that addition under section 69A based solely on third-party survey information without corroborative evidence is unsustainable. Revenue failed to establish assessee's ownership of alleged unexplained cash loans through hundis, providing no material evidence including hundi copies, loan records, or statements. The addition was mechanical and arbitrary, lacking proper confrontation of evidence or opportunity for rebuttal. CBDT Circular requirements for establishing ownership and conducting due inquiry were not satisfied. Appeal decided against revenue. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772099