https://www.taxtmi.com/caselaws?id=328573 The tribunal quashed assessments for the years 2007-08 and 2008-09 due to invalid Section 153C proceedings. The addition of unexplained investment under Section 69 was invalidated as a result. However, the assessment for the year 2010-11 was upheld under Section 143(3), confirming the treatment of gains as business income and upholding additions for unexplained payments. The tribunal also confirmed the calculation of taxable gains, dismissing the appeal and affirming the additions made by the authorities. en-us Tue, 31 May 2016 00:00:00 +0530 Wed, 08 Jun 2016 19:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328573 The tribunal quashed assessments for the years 2007-08 and 2008-09 due to invalid Section 153C proceedings. The addition of unexplained investment under Section 69 was invalidated as a result. However, the assessment for the year 2010-11 was upheld under Section 143(3), confirming the treatment of gains as business income and upholding additions for unexplained payments. The tribunal also confirmed the calculation of taxable gains, dismissing the appeal and affirming the additions made by the authorities. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328573