https://www.taxtmi.com/caselaws?id=272958 The Tribunal upheld the validity of assessment proceedings under Section 153A, citing incriminating material found during the search. The addition of Rs. 1,20,37,863 based on alleged undisclosed foreign bank accounts was upheld by the CIT(A), pending the verificatory report. The Tribunal considered documents as incriminating evidence and restored issues for fresh adjudication due to the absence of a verificatory report. The assessee's retraction of surrender was rejected, emphasizing the need for a verificatory report. The deletion of interest on undisclosed foreign bank account deposits was upheld. The appeal was partly allowed for statistical purposes. en-us Mon, 26 Feb 2018 00:00:00 +0530 Mon, 28 May 2018 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272958 The Tribunal upheld the validity of assessment proceedings under Section 153A, citing incriminating material found during the search. The addition of Rs. 1,20,37,863 based on alleged undisclosed foreign bank accounts was upheld by the CIT(A), pending the verificatory report. The Tribunal considered documents as incriminating evidence and restored issues for fresh adjudication due to the absence of a verificatory report. The assessee's retraction of surrender was rejected, emphasizing the need for a verificatory report. The deletion of interest on undisclosed foreign bank account deposits was upheld. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272958