https://www.taxtmi.com/caselaws?id=34267 HC upheld that additions on account of estimated sales from loose slips collected during survey u/s 133A could not be sustained to the full extent made by the AO. While a false explanation by the assessee may justify an estimate of undisclosed income and limited inferential or guess assessment, the HC agreed with CIT(A) and the Tribunal that the AO's particular estimate was excessive. Accordingly, the addition was partly set aside and remitted to the extent found unjustified on the facts and circumstances. en-us Wed, 22 Jul 2009 00:00:00 +0530 Tue, 11 Nov 2025 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34267 HC upheld that additions on account of estimated sales from loose slips collected during survey u/s 133A could not be sustained to the full extent made by the AO. While a false explanation by the assessee may justify an estimate of undisclosed income and limited inferential or guess assessment, the HC agreed with CIT(A) and the Tribunal that the AO's particular estimate was excessive. Accordingly, the addition was partly set aside and remitted to the extent found unjustified on the facts and circumstances. Case-Laws Income Tax Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34267