https://www.taxtmi.com/caselaws?id=204340 The High Court upheld the validity of proceedings under Sections 158BC and 158BD of the Income Tax Act, reversing the Tribunal's decision. It remitted the case back to the Tribunal for further examination of additions related to share capital, application money, and personal expenses. The High Court emphasized the relevance of evidence and inquiries post-search, supporting the justification for the proceedings and subsequent additions made by the JCIT. en-us Fri, 25 Mar 2011 00:00:00 +0530 Wed, 22 Jun 2011 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204340 The High Court upheld the validity of proceedings under Sections 158BC and 158BD of the Income Tax Act, reversing the Tribunal's decision. It remitted the case back to the Tribunal for further examination of additions related to share capital, application money, and personal expenses. The High Court emphasized the relevance of evidence and inquiries post-search, supporting the justification for the proceedings and subsequent additions made by the JCIT. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204340