https://www.taxtmi.com/caselaws?id=179164 The court dismissed the assessee's appeal concerning the addition of capital gains to the income returned under section 153A of the Income-tax Act, 1961. It was held that the capital gain was taxable as it was offered for taxation in the original return. The court emphasized that section 153A does not allow for new claims in completed assessments and assessments under this section are based on incriminating material found during search, not on new claims or deductions. The decision affirmed the rejection of the claim and underscored the importance of incriminating material in such assessments. en-us Tue, 31 Jul 2012 00:00:00 +0530 Wed, 05 Jul 2017 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179164 The court dismissed the assessee's appeal concerning the addition of capital gains to the income returned under section 153A of the Income-tax Act, 1961. It was held that the capital gain was taxable as it was offered for taxation in the original return. The court emphasized that section 153A does not allow for new claims in completed assessments and assessments under this section are based on incriminating material found during search, not on new claims or deductions. The decision affirmed the rejection of the claim and underscored the importance of incriminating material in such assessments. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179164