https://www.taxtmi.com/caselaws?id=346176 The Tribunal allowed all eighteen appeals, overturning the Assessing Officer's additions of gifts as income from undisclosed sources and the penalties imposed under section 271(1)(c). The Tribunal held that completed assessments cannot be disturbed unless new incriminating material is found during a search. As no such material was discovered, the Assessing Officer lacked jurisdiction to make the additions. The penalties were deleted as the basis for them no longer existed after the additions were reversed. The decision was rendered on May 24, 2017. en-us Wed, 24 May 2017 00:00:00 +0530 Sat, 05 Aug 2017 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346176 The Tribunal allowed all eighteen appeals, overturning the Assessing Officer's additions of gifts as income from undisclosed sources and the penalties imposed under section 271(1)(c). The Tribunal held that completed assessments cannot be disturbed unless new incriminating material is found during a search. As no such material was discovered, the Assessing Officer lacked jurisdiction to make the additions. The penalties were deleted as the basis for them no longer existed after the additions were reversed. The decision was rendered on May 24, 2017. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346176