https://www.taxtmi.com/caselaws?id=786063 Assessment of unexplained loans and advances hinged on the method of computing notional advances from declared interest income; the assessing officer imputed a 10% loan principal because no loans appeared in the balance sheet and added income under unexplained loans. Administrative review found that agency arrangements and principal's books showed sales and debtors, and interest represented legitimate income on delayed payments, not concealed advances; the appellate authority deleted the addition, resulting in the addition being rejected and the revenue losing that claim. en-us Thu, 29 Jan 2026 00:00:00 +0530 Thu, 05 Feb 2026 09:16:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786063 Assessment of unexplained loans and advances hinged on the method of computing notional advances from declared interest income; the assessing officer imputed a 10% loan principal because no loans appeared in the balance sheet and added income under unexplained loans. Administrative review found that agency arrangements and principal's books showed sales and debtors, and interest represented legitimate income on delayed payments, not concealed advances; the appellate authority deleted the addition, resulting in the addition being rejected and the revenue losing that claim. Case-Laws Income Tax Thu, 29 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786063