https://www.taxtmi.com/caselaws?id=241795 In completed section 153A assessments, additions are said to be unsustainable absent incriminating material found in search, and concluded issues cannot be reopened on the basis of materials already on record. Regularly maintained and audited books are not to be rejected under section 145(3), and best judgment assessment under section 144 is unwarranted, without specific defects or incompleteness. The surplus from sale of agricultural land outside the statutory municipal limits remains exempt where the land is not a capital asset and there is no material showing conversion, development, or trading activity. en-us Fri, 27 Dec 2013 00:00:00 +0530 Wed, 01 Jan 2014 12:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241795 In completed section 153A assessments, additions are said to be unsustainable absent incriminating material found in search, and concluded issues cannot be reopened on the basis of materials already on record. Regularly maintained and audited books are not to be rejected under section 145(3), and best judgment assessment under section 144 is unwarranted, without specific defects or incompleteness. The surplus from sale of agricultural land outside the statutory municipal limits remains exempt where the land is not a capital asset and there is no material showing conversion, development, or trading activity. Case-Laws Income Tax Fri, 27 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241795