https://www.taxtmi.com/caselaws?id=786779 The note addresses two issues: first, that treating a loan transaction under the wrong charging provision vitiates the addition because the correct provision governs the nature of the transaction, and the misapplication amounted to non-application of mind, resulting in the addition being set aside; second, that cash deposits were satisfactorily explained by identified cash sources and additions based on surmise and without cogent contrary evidence or proper appellate recording were deleted, with directions for appeal effect. en-us Mon, 16 Feb 2026 00:00:00 +0530 Thu, 19 Feb 2026 07:58:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786779 The note addresses two issues: first, that treating a loan transaction under the wrong charging provision vitiates the addition because the correct provision governs the nature of the transaction, and the misapplication amounted to non-application of mind, resulting in the addition being set aside; second, that cash deposits were satisfactorily explained by identified cash sources and additions based on surmise and without cogent contrary evidence or proper appellate recording were deleted, with directions for appeal effect. Case-Laws Income Tax Mon, 16 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786779