https://www.taxtmi.com/caselaws?id=466968 Deletion of additions under Section 68 and for alleged cash consideration for relinquishment of development rights was affirmed because the assessee produced cogent documentary evidence (PAN, bank-to-bank transfers, financial statements, confirmations) establishing identity, genuineness and creditworthiness of investors and showing cancellation of development agreements; the revenue failed to produce specific contradictory evidence linking receipts to the assessee and relied instead on seized third party records and intra group inferences. Operative effect: once the assessee discharges initial onus with such documents, the burden shifts to the revenue to produce direct contrary proof before making additions. en-us Fri, 21 Feb 2025 00:00:00 +0530 Sat, 28 Feb 2026 08:40:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466968 Deletion of additions under Section 68 and for alleged cash consideration for relinquishment of development rights was affirmed because the assessee produced cogent documentary evidence (PAN, bank-to-bank transfers, financial statements, confirmations) establishing identity, genuineness and creditworthiness of investors and showing cancellation of development agreements; the revenue failed to produce specific contradictory evidence linking receipts to the assessee and relied instead on seized third party records and intra group inferences. Operative effect: once the assessee discharges initial onus with such documents, the burden shifts to the revenue to produce direct contrary proof before making additions. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466968