https://www.taxtmi.com/caselaws?id=255266 The Tribunal upheld the jurisdiction of the Assessing Officer (AO) under sections 153C/153A read with section 143(3), dismissing the challenge based on typographical errors. The assessment under section 153A was deemed valid despite the absence of incriminating material for the relevant assessment year. The addition of income on unaccounted interest from money lending was partially allowed, reducing the amount added. However, the additions related to unaccounted stock of gold/jewellery and torn papers were upheld against the assessee. The Tribunal also affirmed the telescoping benefit in the assessment of income, dismissing the Revenue's appeal. en-us Wed, 31 Dec 2014 00:00:00 +0530 Tue, 13 Jan 2015 08:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255266 The Tribunal upheld the jurisdiction of the Assessing Officer (AO) under sections 153C/153A read with section 143(3), dismissing the challenge based on typographical errors. The assessment under section 153A was deemed valid despite the absence of incriminating material for the relevant assessment year. The addition of income on unaccounted interest from money lending was partially allowed, reducing the amount added. However, the additions related to unaccounted stock of gold/jewellery and torn papers were upheld against the assessee. The Tribunal also affirmed the telescoping benefit in the assessment of income, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255266