https://www.taxtmi.com/caselaws?id=788533 Loose sheets seized in search proceedings may be relied on as incriminating material for assessing undisclosed investment when contemporaneous entries and surrounding circumstances support them, and the statutory presumption places the burden on the assessee to rebut the entries with cogent evidence. Excess jewellery not reflected in books, wealth tax returns or accepted stock records was treated as unexplained investment because no satisfactory source or business-stock explanation was proved. Telescoping of an alleged cash balance against property investment was rejected because the source of the cash was not established with credible material. en-us Wed, 18 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788533 Loose sheets seized in search proceedings may be relied on as incriminating material for assessing undisclosed investment when contemporaneous entries and surrounding circumstances support them, and the statutory presumption places the burden on the assessee to rebut the entries with cogent evidence. Excess jewellery not reflected in books, wealth tax returns or accepted stock records was treated as unexplained investment because no satisfactory source or business-stock explanation was proved. Telescoping of an alleged cash balance against property investment was rejected because the source of the cash was not established with credible material. Case-Laws Income Tax Wed, 18 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788533