https://www.taxtmi.com/caselaws?id=785437 Unexplained cash credit allegations concerning purportedly bogus share capital were rejected where the assessing officer failed to identify defects in the documents produced, so additions premised solely on non-compliance with summons were disallowed and the addition deleted. Disallowance of employee benefits and other expenses was reversed because the assessee produced evidence and increases were not such as to justify disallowance based on presumption and surmise; reliance placed on precedents forbidding disallowances founded on conjecture, and the appeal was allowed. en-us Tue, 20 Jan 2026 00:00:00 +0530 Fri, 23 Jan 2026 09:10:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785437 Unexplained cash credit allegations concerning purportedly bogus share capital were rejected where the assessing officer failed to identify defects in the documents produced, so additions premised solely on non-compliance with summons were disallowed and the addition deleted. Disallowance of employee benefits and other expenses was reversed because the assessee produced evidence and increases were not such as to justify disallowance based on presumption and surmise; reliance placed on precedents forbidding disallowances founded on conjecture, and the appeal was allowed. Case-Laws Income Tax Tue, 20 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785437