https://www.taxtmi.com/caselaws?id=472505 Additions for estimated profit on alleged unaccounted purchases and for unexplained closing stock require independent evidentiary support beyond a survey notebook recording purchase offers. Where accepted offers are entered in regular books, recorded purchases are corroborated by broker affidavits, and no further material establishes undisclosed transactions or stock, an inference of unaccounted purchases or closing stock lacks an evidentiary basis. Both additions were therefore unsustainable. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 13:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472505 Additions for estimated profit on alleged unaccounted purchases and for unexplained closing stock require independent evidentiary support beyond a survey notebook recording purchase offers. Where accepted offers are entered in regular books, recorded purchases are corroborated by broker affidavits, and no further material establishes undisclosed transactions or stock, an inference of unaccounted purchases or closing stock lacks an evidentiary basis. Both additions were therefore unsustainable. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472505