https://www.taxtmi.com/caselaws?id=789342 Seized loose papers, digital data and related statements retained evidentiary value where they were mutually corroborated, aligned with reconstructed accounts, and were not effectively displaced by retraction affidavits lacking a convincing alternative explanation. The Tribunal treated incomplete search material as still reliable and rejected the attempt to neutralise it by bare retraction. On profit estimation, an Assessing Officer must apply a rational yardstick rather than conjecture; disclosed margins and comparable cases may guide the exercise. The Tribunal therefore fixed a 4% net profit rate for undisclosed own transactions and 1.5% for facilitation-based transactions, with the same approach applied across connected appeals. en-us Fri, 27 Mar 2026 00:00:00 +0530 Tue, 07 Apr 2026 07:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789342 Seized loose papers, digital data and related statements retained evidentiary value where they were mutually corroborated, aligned with reconstructed accounts, and were not effectively displaced by retraction affidavits lacking a convincing alternative explanation. The Tribunal treated incomplete search material as still reliable and rejected the attempt to neutralise it by bare retraction. On profit estimation, an Assessing Officer must apply a rational yardstick rather than conjecture; disclosed margins and comparable cases may guide the exercise. The Tribunal therefore fixed a 4% net profit rate for undisclosed own transactions and 1.5% for facilitation-based transactions, with the same approach applied across connected appeals. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789342