https://www.taxtmi.com/caselaws?id=215118 Proceedings initiated under section 153C were valid because the seized materials, including building bills, pension account details and land documents, were sufficient to show that the Assessing Officer had recorded the required satisfaction; the validity of initiation does not depend on the sufficiency of incriminating material on merits. However, the addition under section 69 for unexplained investment in the construction of Hotel Hill View was unsustainable because the record, including bills, a sworn statement, the will, the settlement deed and surrounding circumstances, indicated that the construction was carried out by another person and not by the assessee. The Revenue failed to prove that the assessee made the investment or had the source for it. en-us Fri, 25 May 2012 00:00:00 +0530 Wed, 25 Jul 2012 20:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215118 Proceedings initiated under section 153C were valid because the seized materials, including building bills, pension account details and land documents, were sufficient to show that the Assessing Officer had recorded the required satisfaction; the validity of initiation does not depend on the sufficiency of incriminating material on merits. However, the addition under section 69 for unexplained investment in the construction of Hotel Hill View was unsustainable because the record, including bills, a sworn statement, the will, the settlement deed and surrounding circumstances, indicated that the construction was carried out by another person and not by the assessee. The Revenue failed to prove that the assessee made the investment or had the source for it. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215118