https://www.taxtmi.com/caselaws?id=176810 The Tribunal upheld the CIT(A)'s decision regarding jurisdiction under s. 153C and the treatment of unabsorbed depreciation and capital gains, affirming that the search operation suffices for reopening assessments and disallowing the set-off of unabsorbed depreciation against capital gains. However, the Tribunal remitted the issue of disallowance of bad debts and advances back to the AO for further examination, allowing the assessee an opportunity to substantiate their claims. The appeal was partly allowed for statistical purposes. en-us Fri, 30 Jan 2009 00:00:00 +0530 Mon, 30 Oct 2023 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176810 The Tribunal upheld the CIT(A)'s decision regarding jurisdiction under s. 153C and the treatment of unabsorbed depreciation and capital gains, affirming that the search operation suffices for reopening assessments and disallowing the set-off of unabsorbed depreciation against capital gains. However, the Tribunal remitted the issue of disallowance of bad debts and advances back to the AO for further examination, allowing the assessee an opportunity to substantiate their claims. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 30 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176810