https://www.taxtmi.com/caselaws?id=1656 In block assessment under Chapter XIV-B, additions must rest on incriminating material found during the search or evidence directly relatable to it; post-search statements obtained only to verify books, especially when later retracted or contradicted on cross-examination, cannot substitute for search-linked evidence. The alleged excess stock also could not be justified where it was derived from visual estimate, guesswork, and average-weight assumptions rather than physical counting or another reliable empirical method. The commentary states that mere employee signatures on the panchnama do not certify the accuracy of such estimates, and that a proper investigation is required before fastening an addition for stock discrepancy. en-us Mon, 27 Aug 2007 00:00:00 +0530 Sun, 14 Sep 2008 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1656 In block assessment under Chapter XIV-B, additions must rest on incriminating material found during the search or evidence directly relatable to it; post-search statements obtained only to verify books, especially when later retracted or contradicted on cross-examination, cannot substitute for search-linked evidence. The alleged excess stock also could not be justified where it was derived from visual estimate, guesswork, and average-weight assumptions rather than physical counting or another reliable empirical method. The commentary states that mere employee signatures on the panchnama do not certify the accuracy of such estimates, and that a proper investigation is required before fastening an addition for stock discrepancy. Case-Laws Income Tax Mon, 27 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1656