https://www.taxtmi.com/caselaws?id=468150 An addition under section 68 cannot be sustained where the assessee substantiates the source and movement of funds through land purchase records, bank statements and ledger entries, and the Revenue fails to rebut that material with contrary evidence. On the land purchase issue, the payments were shown to have been made through banking channels and the cash component was limited to incidental expenses, so the addition was deleted. On the term loan repayment issue, sanction letters, loan accounts and banking records established the repayment trail, and the addition was likewise deleted. en-us Mon, 03 Feb 2025 00:00:00 +0530 Fri, 17 Apr 2026 22:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468150 An addition under section 68 cannot be sustained where the assessee substantiates the source and movement of funds through land purchase records, bank statements and ledger entries, and the Revenue fails to rebut that material with contrary evidence. On the land purchase issue, the payments were shown to have been made through banking channels and the cash component was limited to incidental expenses, so the addition was deleted. On the term loan repayment issue, sanction letters, loan accounts and banking records established the repayment trail, and the addition was likewise deleted. Case-Laws Income Tax Mon, 03 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468150