https://www.taxtmi.com/caselaws?id=330017 Deletion of the addition for alleged unaccounted stock was upheld because the adjustment rested on inferred stock and sales without a clear finding of unaccounted purchases or proof of payment for such goods. The Tribunal also accepted that regular assessment proceedings and the special search-related scheme operate in different fields, so any undisclosed income arising from search material must be assessed under the appropriate special chapter. The Court further noted that the Revenue's case risked impermissible double addition, as disallowance of purchase expenditure had already increased income. The conditions for invoking unexplained expenditure were not satisfactorily established, so the addition was rightly deleted. en-us Mon, 04 Jul 2016 00:00:00 +0530 Fri, 15 Jul 2016 11:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330017 Deletion of the addition for alleged unaccounted stock was upheld because the adjustment rested on inferred stock and sales without a clear finding of unaccounted purchases or proof of payment for such goods. The Tribunal also accepted that regular assessment proceedings and the special search-related scheme operate in different fields, so any undisclosed income arising from search material must be assessed under the appropriate special chapter. The Court further noted that the Revenue's case risked impermissible double addition, as disallowance of purchase expenditure had already increased income. The conditions for invoking unexplained expenditure were not satisfactorily established, so the addition was rightly deleted. Case-Laws Income Tax Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330017