https://www.taxtmi.com/caselaws?id=800949 Reassessment founded on incriminating search-and-seizure material has the required material nexus. Estimated income or gross-profit additions cannot rest solely on retracted statements, uncorroborated loose sheets, or WhatsApp chats, particularly where books and quantitative records have not been rejected; adverse third-party material must be confronted and tested through cross-examination. A valuation estimate alone does not prove unexplained construction investment, and recyclable MCX margin money is not expenditure without proof of actual unexplained outgo. Draft land agreements do not establish cash payment without corroboration. Property-valuation additions require notice and a meaningful hearing, while GST-payment evidence admitted under Rule 46A requires verification. Rough working sheets support only evidence-based income estimation. en-us Thu, 16 Jul 2026 00:00:00 +0530 Wed, 14 Oct 2026 06:17:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800949 Reassessment founded on incriminating search-and-seizure material has the required material nexus. Estimated income or gross-profit additions cannot rest solely on retracted statements, uncorroborated loose sheets, or WhatsApp chats, particularly where books and quantitative records have not been rejected; adverse third-party material must be confronted and tested through cross-examination. A valuation estimate alone does not prove unexplained construction investment, and recyclable MCX margin money is not expenditure without proof of actual unexplained outgo. Draft land agreements do not establish cash payment without corroboration. Property-valuation additions require notice and a meaningful hearing, while GST-payment evidence admitted under Rule 46A requires verification. Rough working sheets support only evidence-based income estimation. Case-Laws Income Tax Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800949