https://www.taxtmi.com/caselaws?id=471093 Unverified purchases from three suppliers require fresh verification where books and stock records were not rejected, sales were accepted, and purchase additions were based on estimated suppressed profit; the matter is restored for decision on merits. Jewellery found during search remains taxable as unexplained to the extent not covered by the reasonable allowance under CBDT Instruction No. 1916, because the claim of ownership by a separately residing married daughter lacked supporting search statements and valuation records. Housing-loan interest supported by a bank certificate is allowable, as the additional evidence was undisputed; the related disallowance is deleted. en-us Tue, 28 Feb 2023 00:00:00 +0530 Thu, 20 Aug 2026 18:08:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471093 Unverified purchases from three suppliers require fresh verification where books and stock records were not rejected, sales were accepted, and purchase additions were based on estimated suppressed profit; the matter is restored for decision on merits. Jewellery found during search remains taxable as unexplained to the extent not covered by the reasonable allowance under CBDT Instruction No. 1916, because the claim of ownership by a separately residing married daughter lacked supporting search statements and valuation records. Housing-loan interest supported by a bank certificate is allowable, as the additional evidence was undisputed; the related disallowance is deleted. Case-Laws Income Tax Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471093