https://www.taxtmi.com/caselaws?id=785053 Assessment in search-related proceedings considered whether short-term capital gains addition based on valuation provision was supportable absent any incriminating material seized and where the relevant assessment was not pending at time of search. The Assessing Officer must determine the real assessable income and cannot benefit from an assessee's erroneous offer; corresponding transactions must be verified with documentary evidence. In view of inadequate examination of material, the matter was remitted for fresh adjudication and the taxpayers appeal allowed for statistical purposes. en-us Fri, 28 Nov 2025 00:00:00 +0530 Fri, 16 Jan 2026 08:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785053 Assessment in search-related proceedings considered whether short-term capital gains addition based on valuation provision was supportable absent any incriminating material seized and where the relevant assessment was not pending at time of search. The Assessing Officer must determine the real assessable income and cannot benefit from an assessee's erroneous offer; corresponding transactions must be verified with documentary evidence. In view of inadequate examination of material, the matter was remitted for fresh adjudication and the taxpayers appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785053