https://www.taxtmi.com/caselaws?id=467978 In search assessments under section 153A, completed assessments can be disturbed only where incriminating material exists for the relevant year; additions based on unrelated seized material or broad extrapolation were deleted for unabated years. The Tribunal held that gross profit and cash sales additions could not be applied to the full year on an assumed suppression ratio drawn from a limited seized period, and that recorded opening balances, employee bank entries, and similar ledger items could not be treated as unexplained income without proper enquiry and confrontation. It also deleted the excess stock addition where no quantity discrepancy was found and valuation alone was disputed, and rejected hawala-related additions as duplicative taxation of the same transactions. en-us Fri, 18 Oct 2024 00:00:00 +0530 Thu, 09 Apr 2026 18:21:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467978 In search assessments under section 153A, completed assessments can be disturbed only where incriminating material exists for the relevant year; additions based on unrelated seized material or broad extrapolation were deleted for unabated years. The Tribunal held that gross profit and cash sales additions could not be applied to the full year on an assumed suppression ratio drawn from a limited seized period, and that recorded opening balances, employee bank entries, and similar ledger items could not be treated as unexplained income without proper enquiry and confrontation. It also deleted the excess stock addition where no quantity discrepancy was found and valuation alone was disputed, and rejected hawala-related additions as duplicative taxation of the same transactions. Case-Laws Income Tax Fri, 18 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467978