https://www.taxtmi.com/caselaws?id=279990 For completed assessments, ITAT held that additions under section 153A cannot be sustained unless supported by incriminating material found during search; because the disputed additions were based on the same transaction already examined in the original assessments, the Revenue's challenge failed. On the long-term lease issue, the Tribunal held that a refundable security deposit, backed by the lease deed and supplementary agreement, did not amount to sale consideration and could not be taxed as capital gains under sections 45 and 48. The capital-gains addition was therefore deleted, and the assessee's cross-objections did not require separate adjudication. en-us Fri, 06 Nov 2015 00:00:00 +0530 Tue, 16 Apr 2019 14:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279990 For completed assessments, ITAT held that additions under section 153A cannot be sustained unless supported by incriminating material found during search; because the disputed additions were based on the same transaction already examined in the original assessments, the Revenue's challenge failed. On the long-term lease issue, the Tribunal held that a refundable security deposit, backed by the lease deed and supplementary agreement, did not amount to sale consideration and could not be taxed as capital gains under sections 45 and 48. The capital-gains addition was therefore deleted, and the assessee's cross-objections did not require separate adjudication. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279990