https://www.taxtmi.com/caselaws?id=248683 In abated search assessments under sections 153A and 153C of the Income-tax Act, the Assessing Officer is not confined to seized incriminating material and may assess total income for the relevant years. Capital gains under section 2(47)(v) are attracted on a development agreement only when the arrangement satisfies part performance under section 53A of the Transfer of Property Act, including transfer of possession and the transferee's readiness and willingness to perform; where the agreement was not acted upon or development had not commenced, relief was granted. Additions for unexplained credits, investments, jewellery, cash and disallowance of expenditure depended on evidentiary support, and unsupported or mechanical additions were deleted, remanded, or sustained according to the material on record. en-us Fri, 06 Jun 2014 00:00:00 +0530 Mon, 15 Jun 2015 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248683 In abated search assessments under sections 153A and 153C of the Income-tax Act, the Assessing Officer is not confined to seized incriminating material and may assess total income for the relevant years. Capital gains under section 2(47)(v) are attracted on a development agreement only when the arrangement satisfies part performance under section 53A of the Transfer of Property Act, including transfer of possession and the transferee's readiness and willingness to perform; where the agreement was not acted upon or development had not commenced, relief was granted. Additions for unexplained credits, investments, jewellery, cash and disallowance of expenditure depended on evidentiary support, and unsupported or mechanical additions were deleted, remanded, or sustained according to the material on record. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248683