https://www.taxtmi.com/caselaws?id=64063 In search assessments under Chapter XIV-B, unrecorded cash found outside the regular books may be treated as undisclosed income where the assessee fails to explain its source or earning pattern, and later accounting treatment does not change that character. Seized slips found with such cash may be attributed to the assessee and used only to the extent their contents are explainable and linked to unaccounted activity; blank or narration-less slips cannot sustain arbitrary additions, and set-off for overlap may be allowed. Stock-related additions require factual verification of records and valuation, so disputed quantification may be remitted for fresh adjudication. en-us Mon, 13 Jan 2003 00:00:00 +0530 Thu, 03 Feb 2011 15:24:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64063 In search assessments under Chapter XIV-B, unrecorded cash found outside the regular books may be treated as undisclosed income where the assessee fails to explain its source or earning pattern, and later accounting treatment does not change that character. Seized slips found with such cash may be attributed to the assessee and used only to the extent their contents are explainable and linked to unaccounted activity; blank or narration-less slips cannot sustain arbitrary additions, and set-off for overlap may be allowed. Stock-related additions require factual verification of records and valuation, so disputed quantification may be remitted for fresh adjudication. Case-Laws Income Tax Mon, 13 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64063