https://www.taxtmi.com/caselaws?id=358196 Section 40A(3) applies only where seized debit entries are shown to represent actual expenditure claimed and paid in cash beyond the prescribed limit, so reconciliation of the seized registers and verification of the peak amount is required before any disallowance is sustained. A surrendered amount may be adjusted against the taxable component ultimately found, but only after the Assessing Officer verifies the material. Additions based on the difference between surrendered and declared income, and on unexplained labour and petty contractor expenses, cannot stand on a retracted surrender alone; they require corroboration from seized or other supporting material. en-us Mon, 29 Jan 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358196 Section 40A(3) applies only where seized debit entries are shown to represent actual expenditure claimed and paid in cash beyond the prescribed limit, so reconciliation of the seized registers and verification of the peak amount is required before any disallowance is sustained. A surrendered amount may be adjusted against the taxable component ultimately found, but only after the Assessing Officer verifies the material. Additions based on the difference between surrendered and declared income, and on unexplained labour and petty contractor expenses, cannot stand on a retracted surrender alone; they require corroboration from seized or other supporting material. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358196