https://www.taxtmi.com/caselaws?id=466605 Additions for unexplained share investments, receipts and alleged share-sale income were deleted because they rested on third-party material not properly furnished to the assessee and on assumptions without year-wise or specific evidentiary support; the corresponding revenue grounds failed. Interest expenditure was held allowable against income from other sources where a sufficient nexus existed, and interest under sections 220(2), 234A, 234B and 234C had to be recomputed in line with the reassessment; relief was granted. An alleged difference in balances was explained through reconciliation of opening balances, transaction entries, brokerage differences and minor adjustments, so the addition could not survive. Profit share from a partnership firm remained taxable in the assessee's hands for the relevant year, and that addition was sustained. en-us Wed, 19 Feb 2025 00:00:00 +0530 Fri, 06 Feb 2026 14:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466605 Additions for unexplained share investments, receipts and alleged share-sale income were deleted because they rested on third-party material not properly furnished to the assessee and on assumptions without year-wise or specific evidentiary support; the corresponding revenue grounds failed. Interest expenditure was held allowable against income from other sources where a sufficient nexus existed, and interest under sections 220(2), 234A, 234B and 234C had to be recomputed in line with the reassessment; relief was granted. An alleged difference in balances was explained through reconciliation of opening balances, transaction entries, brokerage differences and minor adjustments, so the addition could not survive. Profit share from a partnership firm remained taxable in the assessee's hands for the relevant year, and that addition was sustained. Case-Laws Income Tax Wed, 19 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466605