https://www.taxtmi.com/caselaws?id=468845 Section 68 additions require corroborated evidence of unexplained credits; share-sale proceeds were held unsustainable where the assessee produced prior acquisition records, banking-channel transfers and responsive purchasers, while general entry-operator statements without cross-examination were insufficient. In unsecured-loan cases, confirmations, tax returns, audited statements, bank records and repayment supported genuineness, so the section 68 addition and connected interest and commission disallowances could not stand. For section 14A, where own funds exceeded investments, a presumption arose that the investments came from those funds, and proportionate interest disallowance was not warranted. The discussion also notes that, on the share transaction, only a limited profit-element approach could survive. en-us Tue, 11 Feb 2025 00:00:00 +0530 Fri, 22 May 2026 12:48:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468845 Section 68 additions require corroborated evidence of unexplained credits; share-sale proceeds were held unsustainable where the assessee produced prior acquisition records, banking-channel transfers and responsive purchasers, while general entry-operator statements without cross-examination were insufficient. In unsecured-loan cases, confirmations, tax returns, audited statements, bank records and repayment supported genuineness, so the section 68 addition and connected interest and commission disallowances could not stand. For section 14A, where own funds exceeded investments, a presumption arose that the investments came from those funds, and proportionate interest disallowance was not warranted. The discussion also notes that, on the share transaction, only a limited profit-element approach could survive. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468845