https://www.taxtmi.com/caselaws?id=466826 Where registered sale agreements exist but no cancellation documents were produced, the presumption attached to registered instruments was applied and additions for undisclosed capital gains were sustained; the assessee's cancellation claim failed for lack of evidence. The District Valuation Officer's enhanced fair market valuation was accepted in the absence of documentary rebuttal. Disallowance of business expenses was confirmed because the assessee did not substantiate continued use or dispute with evidence. Amounts shown as unsecured business loans were treated as unexplained credits where enquiries returned unserved and the assessee did not prove identity, genuineness or creditworthiness of lenders. en-us Tue, 25 Feb 2025 00:00:00 +0530 Fri, 20 Feb 2026 20:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466826 Where registered sale agreements exist but no cancellation documents were produced, the presumption attached to registered instruments was applied and additions for undisclosed capital gains were sustained; the assessee's cancellation claim failed for lack of evidence. The District Valuation Officer's enhanced fair market valuation was accepted in the absence of documentary rebuttal. Disallowance of business expenses was confirmed because the assessee did not substantiate continued use or dispute with evidence. Amounts shown as unsecured business loans were treated as unexplained credits where enquiries returned unserved and the assessee did not prove identity, genuineness or creditworthiness of lenders. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466826