https://www.taxtmi.com/caselaws?id=784473 The dominant issue was whether advances/unsecured loans were liable to addition under s.69 as unexplained, on the AO's premise that the funds were sourced from unrecorded receipts or falsely explained loan repayments. The Tribunal held that complete records of the Bank auto-sweep account, not earlier before the AO, prima facie demonstrated that the relevant receipts were routed through sweep-in/sweep-out movements and were duly reflected in the regular books, undermining the basis of the s.69 addition. As reconciliation of the auto-sweep bank movements with the corresponding ledger entries required limited factual verification, the matter was remanded to the AO for verification, and the appeal was allowed for statistical purposes. en-us Tue, 18 Nov 2025 00:00:00 +0530 Tue, 06 Jan 2026 08:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784473 The dominant issue was whether advances/unsecured loans were liable to addition under s.69 as unexplained, on the AO's premise that the funds were sourced from unrecorded receipts or falsely explained loan repayments. The Tribunal held that complete records of the Bank auto-sweep account, not earlier before the AO, prima facie demonstrated that the relevant receipts were routed through sweep-in/sweep-out movements and were duly reflected in the regular books, undermining the basis of the s.69 addition. As reconciliation of the auto-sweep bank movements with the corresponding ledger entries required limited factual verification, the matter was remanded to the AO for verification, and the appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 18 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784473