https://www.taxtmi.com/caselaws?id=793096 Rough search material alone was held insufficient to sustain additions for alleged suppressed sales and inflated purchases where no unrecorded bills, identified bogus purchases, or other independent corroboration was produced; the full additions were deleted. Where the sales difference was not fully reconciled, the Tribunal applied the settled principle that only the profit element embedded in suppressed sales can be taxed, and estimated profit at 1.25% instead of taxing the entire turnover difference. For the later year, a comparison between part-period seized records and full-year audited results was found unreliable, so the addition was deleted. en-us Wed, 13 May 2026 00:00:00 +0530 Tue, 09 Jun 2026 07:50:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793096 Rough search material alone was held insufficient to sustain additions for alleged suppressed sales and inflated purchases where no unrecorded bills, identified bogus purchases, or other independent corroboration was produced; the full additions were deleted. Where the sales difference was not fully reconciled, the Tribunal applied the settled principle that only the profit element embedded in suppressed sales can be taxed, and estimated profit at 1.25% instead of taxing the entire turnover difference. For the later year, a comparison between part-period seized records and full-year audited results was found unreliable, so the addition was deleted. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793096