https://www.taxtmi.com/caselaws?id=798733 Uncorroborated third-party seized material, including unsigned or vague records, cannot support additions for undisclosed payments or unaccounted sales against an assessee. The statutory presumption relating to seized material applies against the searched person and cannot be extended to a third party without reliable independent evidence. Reliance on a retracted statement where cross-examination is denied breaches natural justice. Disallowance computed under the normal-income mechanism for exempt-income expenditure cannot be imported into book-profit computation, which operates as a separate code. Components integral to a cogeneration system and incapable of independent operation qualify for the depreciation rate applicable to that system. en-us Tue, 25 Aug 2026 00:00:00 +0530 Fri, 11 Sep 2026 08:13:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798733 Uncorroborated third-party seized material, including unsigned or vague records, cannot support additions for undisclosed payments or unaccounted sales against an assessee. The statutory presumption relating to seized material applies against the searched person and cannot be extended to a third party without reliable independent evidence. Reliance on a retracted statement where cross-examination is denied breaches natural justice. Disallowance computed under the normal-income mechanism for exempt-income expenditure cannot be imported into book-profit computation, which operates as a separate code. Components integral to a cogeneration system and incapable of independent operation qualify for the depreciation rate applicable to that system. Case-Laws Income Tax Tue, 25 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798733