https://www.taxtmi.com/caselaws?id=464119 Unsecured-loan additions under section 68 cannot rest solely on a survey statement and an inspector's report without corroborative evidence and fair confrontation of adverse material. Confirmations, tax returns, bank statements, audited accounts and lender responses may establish identity, genuineness and creditworthiness unless displaced by cogent contrary evidence; non-service at former addresses alone is insufficient. Export-sales commission accrues on realisation where the agreement makes the agent's entitlement conditional on receipt of sale proceeds. Mercantile accounting does not override a contractually stipulated accrual event. On these principles, the loan additions and commission disallowance were unsustainable. en-us Wed, 06 Apr 2022 00:00:00 +0530 Mon, 06 Oct 2025 10:20:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464119 Unsecured-loan additions under section 68 cannot rest solely on a survey statement and an inspector's report without corroborative evidence and fair confrontation of adverse material. Confirmations, tax returns, bank statements, audited accounts and lender responses may establish identity, genuineness and creditworthiness unless displaced by cogent contrary evidence; non-service at former addresses alone is insufficient. Export-sales commission accrues on realisation where the agreement makes the agent's entitlement conditional on receipt of sale proceeds. Mercantile accounting does not override a contractually stipulated accrual event. On these principles, the loan additions and commission disallowance were unsustainable. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464119