https://www.taxtmi.com/caselaws?id=788970 Additions for unexplained investment and unexplained expenditure could not be sustained where they were based only on unsigned, undated seized loose sheets and a retracted statement, with no independent corroborative evidence linking the assessee to actual transactions; the loose papers were treated as dumb documents and the additions were deleted. Disallowance of interest expenditure under section 57(iii) also failed where the assessee had sufficient own funds, the Revenue did not dispute that position, and the claimed interest related only partly to the relevant borrowing; the disallowance was therefore deleted. en-us Mon, 09 Mar 2026 00:00:00 +0530 Wed, 01 Apr 2026 07:51:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788970 Additions for unexplained investment and unexplained expenditure could not be sustained where they were based only on unsigned, undated seized loose sheets and a retracted statement, with no independent corroborative evidence linking the assessee to actual transactions; the loose papers were treated as dumb documents and the additions were deleted. Disallowance of interest expenditure under section 57(iii) also failed where the assessee had sufficient own funds, the Revenue did not dispute that position, and the claimed interest related only partly to the relevant borrowing; the disallowance was therefore deleted. Case-Laws Income Tax Mon, 09 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788970