https://www.taxtmi.com/caselaws?id=381466 Where search material only shows third-party accommodation entries and does not disclose any document or asset belonging to the assessee, reopening may proceed under sections 147 and 148 rather than section 153C. Additions under section 68 for share capital and related commission, however, must still be tested on identity, creditworthiness and genuineness, and cannot rest merely on papers where the assessee has not been given full opportunity to meet adverse material. Interest under sections 234A, 234B and 234C is treated as consequential once the assessment is determined. en-us Fri, 07 Jun 2019 00:00:00 +0530 Wed, 12 Jun 2019 06:49:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381466 Where search material only shows third-party accommodation entries and does not disclose any document or asset belonging to the assessee, reopening may proceed under sections 147 and 148 rather than section 153C. Additions under section 68 for share capital and related commission, however, must still be tested on identity, creditworthiness and genuineness, and cannot rest merely on papers where the assessee has not been given full opportunity to meet adverse material. Interest under sections 234A, 234B and 234C is treated as consequential once the assessment is determined. Case-Laws Income Tax Fri, 07 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381466