Sec. 69C of the Income-tax Act, 1961—Unexplained expenditure - The legal issue that the Revenue raised in its appeal is whether the Appellate Tribunal could have disregarded the value of the unaccounted purchases made by the assessee and required additional tax to be imposed by taking into account notional sales when no corresponding sales had taken place during the relevant assessment year. High Court declined to interfere with the view of the Tribunal holding that ”The Appellate Tribunal merely directed the gross profit that the additional purchase was capable of generating to be regarded as the additional income for tax to be assessed on such basis”. Revenue withdrew its SLP along with pending applications therein due to low tax effect. - PR. CIT V/s SUBARNA RICE MILL - [2020] 269 TAXMAN 565 (SC)