https://www.taxtmi.com/caselaws?id=371445 Search materials showing concealed bills, a password-protected suppressed set of accounts, and a marked disparity between recorded and actual transactions supported a finding of suppression of income. The statement recorded on oath retained evidentiary value, and a bare retraction did not displace it. On that basis, the Revenue could sustain additions and adopt gross profit for earlier years through best judgment assessment under the Income-tax Act, and the Tribunal was upheld in doing so. en-us Mon, 24 Sep 2018 00:00:00 +0530 Tue, 04 Dec 2018 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371445 Search materials showing concealed bills, a password-protected suppressed set of accounts, and a marked disparity between recorded and actual transactions supported a finding of suppression of income. The statement recorded on oath retained evidentiary value, and a bare retraction did not displace it. On that basis, the Revenue could sustain additions and adopt gross profit for earlier years through best judgment assessment under the Income-tax Act, and the Tribunal was upheld in doing so. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371445