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4. MM Finances Pvt. Ltd. Vs. DCIT (107 TTJ Chennai

200) wherein held that no addition could be made in the hands of the assessee on the basis of the statement made by the third party and the unsigned agreement and dumb loose slips seized from his residence, in the absence of any corroborative material to show payment of any undisclosed consideration by the assessee towards purchase of land.

5. Bansal Strips (P) Ltd. Vs. ACIT (100 TTJ 665) (Del.) wherein held that addition u/s 68 based on loose papers found during search though authenticity where of being doubtful held that in the absence of adequate material as to the nature and owner ship of transaction, the alleged undisclosed income could not be added u/s 68 to the income to be assessed in the hands of the assessee, merely by arithmetically totalling the various figures jotted down on loose papers found during the course of search.