https://www.taxtmi.com/caselaws?id=285010 Income can be taxed only when it is shown to have actually accrued or been received; a notional excise-based value for scrap cannot by itself justify an addition where there is no evidence of actual sale outside the books and the scrap was not returned by job workers or sub-vendors. Reconciliation statements, invoices, debit notes and correspondence may also defeat additions for concealed or understated sales where they explain rate differences, short receipts and rejected material. A further addition is impermissible where the same amount has already been taxed once, save for any amount properly referable to a different year. en-us Thu, 12 Oct 2017 00:00:00 +0530 Sat, 21 Dec 2019 10:04:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285010 Income can be taxed only when it is shown to have actually accrued or been received; a notional excise-based value for scrap cannot by itself justify an addition where there is no evidence of actual sale outside the books and the scrap was not returned by job workers or sub-vendors. Reconciliation statements, invoices, debit notes and correspondence may also defeat additions for concealed or understated sales where they explain rate differences, short receipts and rejected material. A further addition is impermissible where the same amount has already been taxed once, save for any amount properly referable to a different year. Case-Laws Income Tax Thu, 12 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285010