https://www.taxtmi.com/caselaws?id=251577 On a first return filed after search, the assessee had to substantiate opening assets, liabilities, investments, loans and advances, and the unexplained opening-assets addition was set aside for fresh adjudication. Household withdrawals were allowed to be estimated on the facts, with the low-expense additions largely sustained and only limited reduction where the estimate was excessive. Receipts described as salary were not proved by employer records or supporting evidence and were therefore taxed under the residual head as income from other sources. For assessment year 2009-10, a consolidated ad hoc income estimate was not sustained in full; the Tribunal retained interest income, rejected the unsupported Chapter VI-A claim, and reduced the assessed income. en-us Thu, 31 Jul 2014 00:00:00 +0530 Fri, 19 Sep 2014 08:17:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251577 On a first return filed after search, the assessee had to substantiate opening assets, liabilities, investments, loans and advances, and the unexplained opening-assets addition was set aside for fresh adjudication. Household withdrawals were allowed to be estimated on the facts, with the low-expense additions largely sustained and only limited reduction where the estimate was excessive. Receipts described as salary were not proved by employer records or supporting evidence and were therefore taxed under the residual head as income from other sources. For assessment year 2009-10, a consolidated ad hoc income estimate was not sustained in full; the Tribunal retained interest income, rejected the unsupported Chapter VI-A claim, and reduced the assessed income. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251577