https://www.taxtmi.com/caselaws?id=185420 The Tribunal upheld the deletion of an addition of Rs. 21 lacs on account of gifts received by the assessee, as the gifts were disclosed in the return filed under section 143(1) and no incriminating material was found during the search. The Tribunal emphasized that assessments finalized before the search would not abate and that the power to assess income under section 153A should be limited to undisclosed income unearthed during the search, not items disclosed in the original assessment. The decision aligned with a previous case involving the same donor and dismissed the Department's appeal. en-us Wed, 30 Sep 2015 00:00:00 +0530 Fri, 12 Aug 2016 12:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185420 The Tribunal upheld the deletion of an addition of Rs. 21 lacs on account of gifts received by the assessee, as the gifts were disclosed in the return filed under section 143(1) and no incriminating material was found during the search. The Tribunal emphasized that assessments finalized before the search would not abate and that the power to assess income under section 153A should be limited to undisclosed income unearthed during the search, not items disclosed in the original assessment. The decision aligned with a previous case involving the same donor and dismissed the Department's appeal. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185420