https://www.taxtmi.com/caselaws?id=466750 The Tribunal held that additions treating bank credits as unexplained under Section 68 cannot be sustained absent cogent material displacing the assessee's credible documentary explanations; ledger entries, bank statements, FDs and transfer evidence satisfactorily explained credits, so the CIT(A)'s deletions were upheld. Procedural challenges to notices issued under the search-assessment regime were held infructuous after deletion of substantive additions, and therefore were not adjudicated further. The decision emphasises that perfunctory or speculative enquiries do not suffice to overturn documented sources of funds. en-us Tue, 25 Feb 2025 00:00:00 +0530 Wed, 18 Feb 2026 20:11:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466750 The Tribunal held that additions treating bank credits as unexplained under Section 68 cannot be sustained absent cogent material displacing the assessee's credible documentary explanations; ledger entries, bank statements, FDs and transfer evidence satisfactorily explained credits, so the CIT(A)'s deletions were upheld. Procedural challenges to notices issued under the search-assessment regime were held infructuous after deletion of substantive additions, and therefore were not adjudicated further. The decision emphasises that perfunctory or speculative enquiries do not suffice to overturn documented sources of funds. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466750