https://www.taxtmi.com/caselaws?id=786893 Revenue cannot sustain additions treated as trading profit or unexplained investment without proving essential elements of transactions; the article emphasises that proof of purchase, sale, receipt and retention of consideration or clear evidence that diary notings reflect actual investments is required, and isolated jottings, impounded documents or differences between internal records do not suffice; where such additions are disallowed, consequential treatment of those amounts as turnover to attract statutory audit obligations and penalties also fails, resulting in cancellation of penalty and deletion of additions where corroborative evidence is absent. en-us Wed, 18 Feb 2026 00:00:00 +0530 Sat, 21 Feb 2026 09:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786893 Revenue cannot sustain additions treated as trading profit or unexplained investment without proving essential elements of transactions; the article emphasises that proof of purchase, sale, receipt and retention of consideration or clear evidence that diary notings reflect actual investments is required, and isolated jottings, impounded documents or differences between internal records do not suffice; where such additions are disallowed, consequential treatment of those amounts as turnover to attract statutory audit obligations and penalties also fails, resulting in cancellation of penalty and deletion of additions where corroborative evidence is absent. Case-Laws Income Tax Wed, 18 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786893