https://www.taxtmi.com/caselaws?id=470315 Approval for search assessments requires application of mind, but same-day or consolidated approval does not alone prove mechanical approval where the record supports examination of assessment material. Additions may rest on seized cash, banking analysis and evidence of a continuing accommodation-entry arrangement. Commission income from such activity is chargeable, but must be computed only on verified eligible turnover after excluding internal, contra and circular transactions, at 0.47%; related telescoping claims require fresh examination. Payments through disclosed bank accounts are not unexplained expenditure merely because they were not debited to the profit and loss account. Locker cash must be assessed in the correct assessment year, while search cash cannot be treated as unexplained on conjecture when supported by an unrebutted explanation. en-us Mon, 16 Mar 2026 00:00:00 +0530 Wed, 22 Jul 2026 20:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470315 Approval for search assessments requires application of mind, but same-day or consolidated approval does not alone prove mechanical approval where the record supports examination of assessment material. Additions may rest on seized cash, banking analysis and evidence of a continuing accommodation-entry arrangement. Commission income from such activity is chargeable, but must be computed only on verified eligible turnover after excluding internal, contra and circular transactions, at 0.47%; related telescoping claims require fresh examination. Payments through disclosed bank accounts are not unexplained expenditure merely because they were not debited to the profit and loss account. Locker cash must be assessed in the correct assessment year, while search cash cannot be treated as unexplained on conjecture when supported by an unrebutted explanation. Case-Laws Income Tax Mon, 16 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470315