https://www.taxtmi.com/caselaws?id=259511 The Tribunal upheld the reliance on statements under Section 132(4) of the Act, rejected the argument of quashing assessments due to lack of incriminating material from search operations, dismissed the claim of invalid notice of demand, reduced additions for low household expense withdrawals, directed deletion of additions for unexplained investments, remanded the issue of unexplained cash credits for fresh examination, adjusted estimated commission income, directed against double assessment, and deleted additions for balance value of jewellery and cash. The Tribunal partly allowed the appeals, modifying assessments to avoid double assessment and considering explanations and customary practices. en-us Wed, 22 Apr 2015 00:00:00 +0530 Wed, 13 May 2015 06:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259511 The Tribunal upheld the reliance on statements under Section 132(4) of the Act, rejected the argument of quashing assessments due to lack of incriminating material from search operations, dismissed the claim of invalid notice of demand, reduced additions for low household expense withdrawals, directed deletion of additions for unexplained investments, remanded the issue of unexplained cash credits for fresh examination, adjusted estimated commission income, directed against double assessment, and deleted additions for balance value of jewellery and cash. The Tribunal partly allowed the appeals, modifying assessments to avoid double assessment and considering explanations and customary practices. Case-Laws Income Tax Wed, 22 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259511