https://www.taxtmi.com/caselaws?id=189254 The Tribunal partly allowed the appeal, deleting the additions for unaccounted investments in properties due to lack of material evidence found during the search. The Tribunal directed the AO to reconsider the undervaluation of closing stock and unaccounted investment in excess stock, while reducing the additions for profits from alleged sales outside the books. The Tribunal also directed re-examination of unexplained expenses and advances, upholding some additions for unaccounted payments. The issue of levying surcharge on income tax was restored to the AO for further consideration. en-us Fri, 23 May 2003 00:00:00 +0530 Tue, 03 Jan 2017 14:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189254 The Tribunal partly allowed the appeal, deleting the additions for unaccounted investments in properties due to lack of material evidence found during the search. The Tribunal directed the AO to reconsider the undervaluation of closing stock and unaccounted investment in excess stock, while reducing the additions for profits from alleged sales outside the books. The Tribunal also directed re-examination of unexplained expenses and advances, upholding some additions for unaccounted payments. The issue of levying surcharge on income tax was restored to the AO for further consideration. Case-Laws Income Tax Fri, 23 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189254