https://www.taxtmi.com/caselaws?id=785226 Ledgers seized from a third party show the assessee acted as a financier making repeated payments with systematic interest computations; such unexplained payments are taxable as unexplained expenditure under section 69C, and additions in the assessee's hands are sustained. The method of computing incremental negative peak after granting intra-year telescoping is upheld to avoid duplication, and refusal to telescope opening balances of time-barred years is sustained. Application of the punitive tax provision 115BBE follows as a statutory consequence once additions under section 69C are sustained. Interest entries in the seized diaries represent real accrual and receipt and the Assessing Officer's addition for interest is restored. en-us Tue, 13 Jan 2026 00:00:00 +0530 Tue, 20 Jan 2026 06:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785226 Ledgers seized from a third party show the assessee acted as a financier making repeated payments with systematic interest computations; such unexplained payments are taxable as unexplained expenditure under section 69C, and additions in the assessee's hands are sustained. The method of computing incremental negative peak after granting intra-year telescoping is upheld to avoid duplication, and refusal to telescope opening balances of time-barred years is sustained. Application of the punitive tax provision 115BBE follows as a statutory consequence once additions under section 69C are sustained. Interest entries in the seized diaries represent real accrual and receipt and the Assessing Officer's addition for interest is restored. Case-Laws Income Tax Tue, 13 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785226