https://www.taxtmi.com/caselaws?id=239717 Additions and disallowances require substantive evidentiary support and cannot rest solely on prior acceptance, estimates, suspicion, or assumed percentages. Additions accepted under a mistake or misconception remain contestable on their merits. Related-party seed-purchase payments require evidence of excessiveness or lack of business need before disallowance. Where taxable milk income is assessed, corresponding livestock expenditure should be reasonably apportioned rather than wholly denied. Profits from breeder and foundation seeds grown through agricultural operations retain agricultural-income character. Interest on an advance may not be disallowed where recovery is factually doubtful, and agricultural-expense estimates require rejection of audited books or evidence of unrecorded expenditure. en-us Fri, 22 Mar 2013 00:00:00 +0530 Mon, 18 Nov 2013 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239717 Additions and disallowances require substantive evidentiary support and cannot rest solely on prior acceptance, estimates, suspicion, or assumed percentages. Additions accepted under a mistake or misconception remain contestable on their merits. Related-party seed-purchase payments require evidence of excessiveness or lack of business need before disallowance. Where taxable milk income is assessed, corresponding livestock expenditure should be reasonably apportioned rather than wholly denied. Profits from breeder and foundation seeds grown through agricultural operations retain agricultural-income character. Interest on an advance may not be disallowed where recovery is factually doubtful, and agricultural-expense estimates require rejection of audited books or evidence of unrecorded expenditure. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239717