https://www.taxtmi.com/caselaws?id=179292 In computing capital gains, actual cost and actual sale consideration cannot be substituted by estimates or presumptions without cogent contrary evidence or statutory authority, and the addition based on such hypothesis was deleted. The record also showed that the Assessing Officer had been supplied additional evidence and had attended the first appellate proceedings, so the plea of denial of proper opportunity failed. Household expenditure was found to have been estimated on an inadequate basis and was reduced, giving the assessee partial relief. Disallowances from salary and bonus, brokerage and commission, telephone, and scooter and petrol expenses were partly sustained, though the latter two were reduced as excessive. en-us Mon, 27 Aug 2007 00:00:00 +0530 Thu, 25 Feb 2016 14:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179292 In computing capital gains, actual cost and actual sale consideration cannot be substituted by estimates or presumptions without cogent contrary evidence or statutory authority, and the addition based on such hypothesis was deleted. The record also showed that the Assessing Officer had been supplied additional evidence and had attended the first appellate proceedings, so the plea of denial of proper opportunity failed. Household expenditure was found to have been estimated on an inadequate basis and was reduced, giving the assessee partial relief. Disallowances from salary and bonus, brokerage and commission, telephone, and scooter and petrol expenses were partly sustained, though the latter two were reduced as excessive. Case-Laws Income Tax Mon, 27 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179292