https://www.taxtmi.com/caselaws?id=385612 Completed search assessments under section 153A cannot be disturbed for non-abated years unless incriminating material is found in the search; absent such material, additions are not sustainable. Share capital, share premium and share application money are not to be treated as unexplained cash credits under section 68 where the assessee produces investor identities, confirmations, bank records, corporate documents and allotment details establishing genuineness and creditworthiness. Disclosed income may be telescoped against additions for alleged undisclosed expenditure where the same funds are already taxed, so as to avoid impermissible double addition. en-us Fri, 06 Sep 2019 00:00:00 +0530 Mon, 09 Sep 2019 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385612 Completed search assessments under section 153A cannot be disturbed for non-abated years unless incriminating material is found in the search; absent such material, additions are not sustainable. Share capital, share premium and share application money are not to be treated as unexplained cash credits under section 68 where the assessee produces investor identities, confirmations, bank records, corporate documents and allotment details establishing genuineness and creditworthiness. Disclosed income may be telescoped against additions for alleged undisclosed expenditure where the same funds are already taxed, so as to avoid impermissible double addition. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385612