https://www.taxtmi.com/caselaws?id=217262 A subsequent opportunity before the appellate authority and remand proceedings cured the complaint of denial of effective hearing at assessment stage. Additions based on low drawings and household expenditure, unexplained investment in paintings, unexplained source for land purchase, and opening capital balance were set aside for fresh factual verification because the record required further examination of withdrawals, ownership, payments, valuation, and supporting material. The addition for cash found in the locker was sustained because no reliable evidence was produced to show that it belonged to the company or was otherwise explained. The matter thus turned largely on incomplete factual proof and the need for corroboration in disputed search-related additions. en-us Tue, 31 Jul 2012 00:00:00 +0530 Tue, 09 Oct 2012 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217262 A subsequent opportunity before the appellate authority and remand proceedings cured the complaint of denial of effective hearing at assessment stage. Additions based on low drawings and household expenditure, unexplained investment in paintings, unexplained source for land purchase, and opening capital balance were set aside for fresh factual verification because the record required further examination of withdrawals, ownership, payments, valuation, and supporting material. The addition for cash found in the locker was sustained because no reliable evidence was produced to show that it belonged to the company or was otherwise explained. The matter thus turned largely on incomplete factual proof and the need for corroboration in disputed search-related additions. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217262