https://www.taxtmi.com/caselaws?id=472443 Search additions require seized material that identifies the taxable event, parties, transaction nature and purpose, and relevant assessment year; vague loose sheets and unverified employee statements cannot, without corroboration, support unexplained-income additions. Presumptions for seized records establish genuineness but do not permit speculative readings of cryptic entries. Payments recorded in books or through banking channels are not unexplained, and entries must be assessed, if at all, in the correct assessment year; unsupported expenditure may remain taxable. A sales abstract reconciled with books and bank receipts does not establish suppressed turnover. Income and related expenditure or investment arising from the same material may be telescoped to prevent double taxation. Mere receivables, cheques, or promissory notes without linkage or actual accrual do not establish taxable income. en-us Wed, 06 Aug 2025 00:00:00 +0530 Tue, 13 Oct 2026 04:47:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472443 Search additions require seized material that identifies the taxable event, parties, transaction nature and purpose, and relevant assessment year; vague loose sheets and unverified employee statements cannot, without corroboration, support unexplained-income additions. Presumptions for seized records establish genuineness but do not permit speculative readings of cryptic entries. Payments recorded in books or through banking channels are not unexplained, and entries must be assessed, if at all, in the correct assessment year; unsupported expenditure may remain taxable. A sales abstract reconciled with books and bank receipts does not establish suppressed turnover. Income and related expenditure or investment arising from the same material may be telescoped to prevent double taxation. Mere receivables, cheques, or promissory notes without linkage or actual accrual do not establish taxable income. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472443