https://www.taxtmi.com/caselaws?id=242174 The Tribunal upheld that additions made under Section 153A must be supported by seized material, ruling assessments invalid without such evidence. Assessments under Section 153A were deemed invalid if search warrants were not issued in the assessee's name. Income estimation at 8% for main contracts and 5% for sub-contracts was justified. Unexplained income additions were confirmed but subject to bank transfer verification. Sale proceeds from agricultural land were treated as income unless proven otherwise, following a High Court decision. The revenue's appeals were dismissed, and the assessee's appeals were allowed, with assessments under Section 153A quashed. en-us Thu, 19 Dec 2013 00:00:00 +0530 Thu, 09 Jan 2014 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242174 The Tribunal upheld that additions made under Section 153A must be supported by seized material, ruling assessments invalid without such evidence. Assessments under Section 153A were deemed invalid if search warrants were not issued in the assessee's name. Income estimation at 8% for main contracts and 5% for sub-contracts was justified. Unexplained income additions were confirmed but subject to bank transfer verification. Sale proceeds from agricultural land were treated as income unless proven otherwise, following a High Court decision. The revenue's appeals were dismissed, and the assessee's appeals were allowed, with assessments under Section 153A quashed. Case-Laws Income Tax Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242174