https://www.taxtmi.com/caselaws?id=467440 Section 69C applies only where the assessee has incurred expenditure and its source remains unexplained; a mere reference to third-party search material or a statement recorded during search is insufficient. Here, the appellate finding that the assessee's transactions were sales, not purchases, was accepted, and the assessment order failed to identify any false entry in the books or conduct effective enquiry to show that the amount represented unexplained expenditure. The deletion of the addition was therefore upheld in favour of the assessee. en-us Thu, 20 Feb 2025 00:00:00 +0530 Tue, 17 Mar 2026 18:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467440 Section 69C applies only where the assessee has incurred expenditure and its source remains unexplained; a mere reference to third-party search material or a statement recorded during search is insufficient. Here, the appellate finding that the assessee's transactions were sales, not purchases, was accepted, and the assessment order failed to identify any false entry in the books or conduct effective enquiry to show that the amount represented unexplained expenditure. The deletion of the addition was therefore upheld in favour of the assessee. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467440