https://www.taxtmi.com/caselaws?id=284238 Survey statements alone do not conclusively support additions for non-genuine creditors or unexplained investment; corroborative material is required. Where creditor balances rendered the books unreliable, income was to be estimated using the average gross profit rate of relevant years rather than by sustaining the full addition based solely on survey admissions. The unexplained-investment addition for chilling plants lacked independent evidence and was deleted. Expenditure on reusable milk cans and crates remained revenue expenditure because it created no enduring capital advantage. Cash payments for firewood purchases fell within the recognised Rule 6DD exception for forest products, making the related disallowance unsustainable. en-us Wed, 26 Jul 2017 00:00:00 +0530 Fri, 08 Nov 2019 08:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284238 Survey statements alone do not conclusively support additions for non-genuine creditors or unexplained investment; corroborative material is required. Where creditor balances rendered the books unreliable, income was to be estimated using the average gross profit rate of relevant years rather than by sustaining the full addition based solely on survey admissions. The unexplained-investment addition for chilling plants lacked independent evidence and was deleted. Expenditure on reusable milk cans and crates remained revenue expenditure because it created no enduring capital advantage. Cash payments for firewood purchases fell within the recognised Rule 6DD exception for forest products, making the related disallowance unsustainable. Case-Laws Income Tax Wed, 26 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284238