https://www.taxtmi.com/caselaws?id=788902 The presumption applicable to seized material allowed the diary to be treated as belonging to the assessee and its entries as true, but it did not permit the Assessing Officer to rewrite those entries on an unsupported assumption that the figures were short by two zeros. Confirmations, affidavits, and recorded statements supported the figures as written, and no concrete material justified the estimated interest addition. As the addition depended entirely on that conjectural premise, the unaccounted interest income and consequential additions were deleted in favour of the assessee. en-us Mon, 09 Mar 2026 00:00:00 +0530 Tue, 31 Mar 2026 08:27:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788902 The presumption applicable to seized material allowed the diary to be treated as belonging to the assessee and its entries as true, but it did not permit the Assessing Officer to rewrite those entries on an unsupported assumption that the figures were short by two zeros. Confirmations, affidavits, and recorded statements supported the figures as written, and no concrete material justified the estimated interest addition. As the addition depended entirely on that conjectural premise, the unaccounted interest income and consequential additions were deleted in favour of the assessee. Case-Laws Income Tax Mon, 09 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788902