https://www.taxtmi.com/caselaws?id=471834 Search-based assessments require estimated additions to rest on search material or valid rejection of books, while computation must use income actually returned. Key principles also include the presumption that sufficient own interest-free funds finance advances; limits on disallowances for tax-deduction defaults and cash payments; prevention of duplicate purchase disallowances; and treatment of operational compensation creating no enduring asset as revenue expenditure. Projected bank statements and loose papers require corroboration where books and recorded explanations support the transactions. These principles concern the sustainability of corresponding income-tax adjustments. en-us Mon, 10 Aug 2015 00:00:00 +0530 Sat, 19 Sep 2026 14:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471834 Search-based assessments require estimated additions to rest on search material or valid rejection of books, while computation must use income actually returned. Key principles also include the presumption that sufficient own interest-free funds finance advances; limits on disallowances for tax-deduction defaults and cash payments; prevention of duplicate purchase disallowances; and treatment of operational compensation creating no enduring asset as revenue expenditure. Projected bank statements and loose papers require corroboration where books and recorded explanations support the transactions. These principles concern the sustainability of corresponding income-tax adjustments. Case-Laws Income Tax Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471834