https://www.taxtmi.com/caselaws?id=123069 The Tribunal canceled the assessment order for the year 2004-05, finding it outside the purview of Section 153A. The Tribunal upheld additions for unexplained investment in Indira Vikas Patras but directed assessment of interest on a cash basis. Additionally, unaccounted debtors' amounts were confirmed, income from Merchants Social Club was upheld at Rs. 54 lakhs per year, and unexplained credits in bank accounts were telescoped into assessed club income. Cash donations for temple renovation were confirmed, and the investment in film production was merged with club income. A.N. Rangaswamy's appeals for 1998-99 to 2003-04 were partly allowed, and for 2004-05 were allowed. Departmental appeals were partly allowed, and appeals by the Department and cross-objections by the club were dismissed. en-us Wed, 25 Feb 2009 00:00:00 +0530 Sat, 01 Sep 2012 12:26:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123069 The Tribunal canceled the assessment order for the year 2004-05, finding it outside the purview of Section 153A. The Tribunal upheld additions for unexplained investment in Indira Vikas Patras but directed assessment of interest on a cash basis. Additionally, unaccounted debtors' amounts were confirmed, income from Merchants Social Club was upheld at Rs. 54 lakhs per year, and unexplained credits in bank accounts were telescoped into assessed club income. Cash donations for temple renovation were confirmed, and the investment in film production was merged with club income. A.N. Rangaswamy's appeals for 1998-99 to 2003-04 were partly allowed, and for 2004-05 were allowed. Departmental appeals were partly allowed, and appeals by the Department and cross-objections by the club were dismissed. Case-Laws Income Tax Wed, 25 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123069