https://www.taxtmi.com/highlights?id=100521 Third-party seized documents cannot, by themselves, sustain an addition where the assessee denies receipt of cash and no independent corroboration such as a cash trail or confirmation is produced; the ITAT held that the presumption under section 132(4A) read with section 292C does not operate against an assessee for material found at a third party's premises, so the addition failed. A receipt linked to a joint development agreement could not be taxed as income from other sources under section 56 without first examining whether it arose from a transfer of a capital asset and the correct year of taxability under the capital gains provisions; as the required transfer analysis was not undertaken, the addition was deleted. en-us Sat, 06 Jun 2026 08:42:25 +0530 Sat, 06 Jun 2026 08:42:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=100521 Third-party seized documents cannot, by themselves, sustain an addition where the assessee denies receipt of cash and no independent corroboration such as a cash trail or confirmation is produced; the ITAT held that the presumption under section 132(4A) read with section 292C does not operate against an assessee for material found at a third party's premises, so the addition failed. A receipt linked to a joint development agreement could not be taxed as income from other sources under section 56 without first examining whether it arose from a transfer of a capital asset and the correct year of taxability under the capital gains provisions; as the required transfer analysis was not undertaken, the addition was deleted. Highlights Income Tax Sat, 06 Jun 2026 08:42:25 +0530 https://www.taxtmi.com/highlights?id=100521