https://www.taxtmi.com/caselaws?id=788645 Retractions of search statements, by themselves, could not sustain a full disallowance of purchases and expenses where documentary records, bank trail, tax compliance material, accepted sales and responses to verification notices supported genuineness; the full disallowance was therefore not sustained, though a limited addition remained for parties that were unverifiable. Alleged unexplained cash receipts were treated as ticket-sale income from public events because the assessee filed supporting details and no contrary material displaced that explanation; the addition on unexplained money was deleted. The overall result was partial relief, with the major purchase disallowance substantially reduced and the section 69A addition removed. en-us Fri, 20 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 18:31:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788645 Retractions of search statements, by themselves, could not sustain a full disallowance of purchases and expenses where documentary records, bank trail, tax compliance material, accepted sales and responses to verification notices supported genuineness; the full disallowance was therefore not sustained, though a limited addition remained for parties that were unverifiable. Alleged unexplained cash receipts were treated as ticket-sale income from public events because the assessee filed supporting details and no contrary material displaced that explanation; the addition on unexplained money was deleted. The overall result was partial relief, with the major purchase disallowance substantially reduced and the section 69A addition removed. Case-Laws Income Tax Fri, 20 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788645