https://www.taxtmi.com/highlights?id=60676 Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were before the AO, he must bring on record any contrary evidence, he must have made the inquiry from the purchasers when the data or details of the purchasers were before him, before making the addition on account of understatement of sales. The Assessing Officer has not brought on record any contrary evidence except these loose papers. - AO made the addition own guess work, assumption, presumption and suspicion - AT en-us Sat, 27 Nov 2021 17:02:10 +0530 Sat, 27 Nov 2021 17:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60676 Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were before the AO, he must bring on record any contrary evidence, he must have made the inquiry from the purchasers when the data or details of the purchasers were before him, before making the addition on account of understatement of sales. The Assessing Officer has not brought on record any contrary evidence except these loose papers. - AO made the addition own guess work, assumption, presumption and suspicion - AT Highlights Income Tax Sat, 27 Nov 2021 17:02:10 +0530 https://www.taxtmi.com/highlights?id=60676