https://www.taxtmi.com/caselaws?id=466563 Addition of unexplained income for excess stock seized during search was contested on grounds that post-search purchase invoices, inventory reconciliation, supplier confirmations and remand-stage verifications negated the presumption of undisclosed acquisition. The tribunal found the assessee produced corroborative evidence that was verified, and held the registered valuer's uniform market purity valuation (ignoring differing karat and jewellery versus bars) improper. Because the revenue failed to produce positive material rebutting invoices and confirmations, the valuation-based addition of Rs. 4,96,60,427 was deleted and the appeal allowed for the assessee. en-us Wed, 26 Feb 2025 00:00:00 +0530 Wed, 11 Feb 2026 17:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466563 Addition of unexplained income for excess stock seized during search was contested on grounds that post-search purchase invoices, inventory reconciliation, supplier confirmations and remand-stage verifications negated the presumption of undisclosed acquisition. The tribunal found the assessee produced corroborative evidence that was verified, and held the registered valuer's uniform market purity valuation (ignoring differing karat and jewellery versus bars) improper. Because the revenue failed to produce positive material rebutting invoices and confirmations, the valuation-based addition of Rs. 4,96,60,427 was deleted and the appeal allowed for the assessee. Case-Laws Income Tax Wed, 26 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466563