https://www.taxtmi.com/caselaws?id=467391 Assessing officer's rejection of regularly maintained books and estimated additions based solely on seized papers was unjustified because the seized entries lacked dates, transaction identifiers and independent confirmation, some sheets reflected estimates or mismatched area/costs, and the AO failed to conduct available independent enquiries (market/Jantri rates or purchaser verification). Tribunal applied search-and-seizure evidentiary principles and presumptions but required corroboration before overturning books; it found impermissible extrapolation from incriminating entries relating to five units to 32 units and disallowed the uniform on money and profit-rate estimates, allowing the assessee on this issue. en-us Wed, 14 Dec 2022 00:00:00 +0530 Tue, 17 Mar 2026 12:06:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467391 Assessing officer's rejection of regularly maintained books and estimated additions based solely on seized papers was unjustified because the seized entries lacked dates, transaction identifiers and independent confirmation, some sheets reflected estimates or mismatched area/costs, and the AO failed to conduct available independent enquiries (market/Jantri rates or purchaser verification). Tribunal applied search-and-seizure evidentiary principles and presumptions but required corroboration before overturning books; it found impermissible extrapolation from incriminating entries relating to five units to 32 units and disallowed the uniform on money and profit-rate estimates, allowing the assessee on this issue. Case-Laws Income Tax Wed, 14 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467391