https://www.taxtmi.com/caselaws?id=373694 Income-tax assessment was held to depend on contemporaneous search and survey materials, sworn statements and other evidence, rather than on a civil court-approved list of creditors in insolvency proceedings; the approved list did not bind the tax authorities or justify deletion of cash credits under Section 68. The assessee was also treated as an Association of Persons on the basis of common control, inter-lacing of funds and use of common premises, and that factual finding was upheld. Additions for unaccounted interest on gold loans and disallowance of interest on deposits were sustained on seized material, while the Tribunal's remand was held unnecessary. en-us Wed, 19 Dec 2018 00:00:00 +0530 Sat, 31 Aug 2019 16:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373694 Income-tax assessment was held to depend on contemporaneous search and survey materials, sworn statements and other evidence, rather than on a civil court-approved list of creditors in insolvency proceedings; the approved list did not bind the tax authorities or justify deletion of cash credits under Section 68. The assessee was also treated as an Association of Persons on the basis of common control, inter-lacing of funds and use of common premises, and that factual finding was upheld. Additions for unaccounted interest on gold loans and disallowance of interest on deposits were sustained on seized material, while the Tribunal's remand was held unnecessary. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373694