https://www.taxtmi.com/caselaws?id=467132 Additions under the head of unsecured loans/share application money (Section 68) and enhancements treated as presumed commission were examined against documentary bank records, ledger entries and accepted interest; the Tribunal held that reliance solely on statements from accused/third parties or investigation inquiries is insufficient and additions lacking corroborative incriminating seized documents or independent enquiries must be deleted, and so directed deletion of those additions. Consequent concealment penalty was held unsupportable where the foundational additions were deleted and therefore deleted. The Tribunal further held that acceptance of an interest component as genuine negates discrediting of the corresponding principal loan absent contrary credible evidence. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 05 Mar 2026 12:49:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467132 Additions under the head of unsecured loans/share application money (Section 68) and enhancements treated as presumed commission were examined against documentary bank records, ledger entries and accepted interest; the Tribunal held that reliance solely on statements from accused/third parties or investigation inquiries is insufficient and additions lacking corroborative incriminating seized documents or independent enquiries must be deleted, and so directed deletion of those additions. Consequent concealment penalty was held unsupportable where the foundational additions were deleted and therefore deleted. The Tribunal further held that acceptance of an interest component as genuine negates discrediting of the corresponding principal loan absent contrary credible evidence. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467132