https://www.taxtmi.com/caselaws?id=239300 A voluntary disclosure recorded during search can be retracted only with credible material showing mistake or inaccuracy; an affidavit alone is insufficient, so the earlier surrender of accommodation-bill income was upheld. Payments to local fishermen for temporary jetty construction were treated as allowable business expenditure where a clear commercial nexus was shown, while commission paid to obtain bogus accommodation bills was not deductible because it was incurred for an unlawful and fictitious billing arrangement. Foreign travel expenditure reflected in regular books could not be disallowed in block assessment without seized material, as such adjustments belong to regular assessment. The article concludes that search-based admissions and block additions depend on reliable evidence, not mere assertions. en-us Fri, 26 Apr 2013 00:00:00 +0530 Sun, 10 Nov 2013 09:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239300 A voluntary disclosure recorded during search can be retracted only with credible material showing mistake or inaccuracy; an affidavit alone is insufficient, so the earlier surrender of accommodation-bill income was upheld. Payments to local fishermen for temporary jetty construction were treated as allowable business expenditure where a clear commercial nexus was shown, while commission paid to obtain bogus accommodation bills was not deductible because it was incurred for an unlawful and fictitious billing arrangement. Foreign travel expenditure reflected in regular books could not be disallowed in block assessment without seized material, as such adjustments belong to regular assessment. The article concludes that search-based admissions and block additions depend on reliable evidence, not mere assertions. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239300