https://www.taxtmi.com/caselaws?id=778822 AT upheld the assessee's appeal and deleted additions for alleged investments/loans. ITAT found the AO lacked corroborative material: seized documents did not substantiate entries, no statements or summons were obtained for named brokers/borrowers, and phone/address details were unused. The assessee's statement recorded u/s 133A was later retracted and could not support additions. Impounded papers were "dumb documents" with no evidence of interest or investment and unexplained inflated figures. In absence of supporting evidence, adverse inference against the assessee could not be drawn. en-us Thu, 18 Sep 2025 00:00:00 +0530 Tue, 23 Sep 2025 08:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778822 AT upheld the assessee's appeal and deleted additions for alleged investments/loans. ITAT found the AO lacked corroborative material: seized documents did not substantiate entries, no statements or summons were obtained for named brokers/borrowers, and phone/address details were unused. The assessee's statement recorded u/s 133A was later retracted and could not support additions. Impounded papers were "dumb documents" with no evidence of interest or investment and unexplained inflated figures. In absence of supporting evidence, adverse inference against the assessee could not be drawn. Case-Laws Income Tax Thu, 18 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778822