https://www.taxtmi.com/caselaws?id=471492 Section 69A does not permit assessment of a carried-forward opening balance as current-year unexplained money where seized material shows no introduction of funds during the relevant year and no independent evidence establishes a current-year investment. Extracts drawn from seized FoxPro books already available to the Assessing Officer are not fresh evidence requiring compliance with Rule 46A. Further, loose-sheet entries recording alleged deposits do not constitute money, bullion, jewellery, or another valuable article whose ownership is required for section 69A. Consequently, the addition for the alleged unaccounted deposit was unsustainable. en-us Tue, 08 Apr 2025 00:00:00 +0530 Sat, 05 Sep 2026 21:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471492 Section 69A does not permit assessment of a carried-forward opening balance as current-year unexplained money where seized material shows no introduction of funds during the relevant year and no independent evidence establishes a current-year investment. Extracts drawn from seized FoxPro books already available to the Assessing Officer are not fresh evidence requiring compliance with Rule 46A. Further, loose-sheet entries recording alleged deposits do not constitute money, bullion, jewellery, or another valuable article whose ownership is required for section 69A. Consequently, the addition for the alleged unaccounted deposit was unsustainable. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471492