https://www.taxtmi.com/caselaws?id=470999 Unsecured-loan additions cannot rest solely on non-production of lenders' bank statements where lender identity and loan confirmations are established through PAN details and confirmations, without independent enquiry into the transactions. The addition was therefore deleted. For alleged bogus purchases in a civil-contract business, site-based procurement from local suppliers and operational urgency partly supported the transactions, but ledger discrepancies and some supplier denials justified an estimated disallowance. The purchase disallowance was restricted to 10% of the disputed amount, rather than disallowing the entire purchases. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470999 Unsecured-loan additions cannot rest solely on non-production of lenders' bank statements where lender identity and loan confirmations are established through PAN details and confirmations, without independent enquiry into the transactions. The addition was therefore deleted. For alleged bogus purchases in a civil-contract business, site-based procurement from local suppliers and operational urgency partly supported the transactions, but ledger discrepancies and some supplier denials justified an estimated disallowance. The purchase disallowance was restricted to 10% of the disputed amount, rather than disallowing the entire purchases. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470999