https://www.taxtmi.com/caselaws?id=182095 An assessing officer may reject an assessee's chosen accounting basis and substitute an alternative method, provided the officer discloses the basis and valuation methodology used for the substitution; this permits adoption of alternative prices but requires transparency of computation. Conversely, additions to income asserted on account of alleged short measure (kasar) cannot be made without evidence specific to the assessee; speculative or industry-wide assumptions do not suffice. The document directs re-quantification consistent with these principles where prior additions lacked evidential foundation. en-us Tue, 31 Dec 1935 00:00:00 +0530 Mon, 02 May 2016 17:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182095 An assessing officer may reject an assessee's chosen accounting basis and substitute an alternative method, provided the officer discloses the basis and valuation methodology used for the substitution; this permits adoption of alternative prices but requires transparency of computation. Conversely, additions to income asserted on account of alleged short measure (kasar) cannot be made without evidence specific to the assessee; speculative or industry-wide assumptions do not suffice. The document directs re-quantification consistent with these principles where prior additions lacked evidential foundation. Case-Laws Income Tax Tue, 31 Dec 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182095