https://www.taxtmi.com/caselaws?id=798423 Section 69A requires proof that the assessee owned money or valuable assets not recorded in its books. Third-party loose papers, digital entries and statements alleging over-invoicing and cash kickbacks, without a search, cash seizure, asset, bank trail or other independent evidence linking unaccounted funds to the assessee, do not establish such ownership or receipt. An allegation that a supplier returned cash to a customer is also inconsistent with treating that cash as unexplained money of the supplier. Reliance on customer officials' statements without cross-examination further weakens the charge. The stated addition was therefore legally unsustainable and deleted. en-us Wed, 02 Sep 2026 00:00:00 +0530 Mon, 07 Sep 2026 08:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798423 Section 69A requires proof that the assessee owned money or valuable assets not recorded in its books. Third-party loose papers, digital entries and statements alleging over-invoicing and cash kickbacks, without a search, cash seizure, asset, bank trail or other independent evidence linking unaccounted funds to the assessee, do not establish such ownership or receipt. An allegation that a supplier returned cash to a customer is also inconsistent with treating that cash as unexplained money of the supplier. Reliance on customer officials' statements without cross-examination further weakens the charge. The stated addition was therefore legally unsustainable and deleted. Case-Laws Income Tax Wed, 02 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798423