https://www.taxtmi.com/caselaws?id=395075 The Tribunal upheld the validity of the assessment under Section 153A of the Income Tax Act, dismissing the assessee's objection regarding the absence of incriminating material. The Tribunal directed a re-examination of the disallowance of expenses and the addition of undisclosed income as unexplained share application money and premium, ordering a fresh adjudication by the CIT(A) with specific reference to incriminating documents. The Tribunal remanded the issue of charging interest under Sections 234A and 234B for fresh adjudication. The appeals were allowed for statistical purposes, and the CIT(A) was directed to provide reasoned orders for all assessment years under consideration. en-us Fri, 28 Feb 2020 00:00:00 +0530 Mon, 04 May 2020 21:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395075 The Tribunal upheld the validity of the assessment under Section 153A of the Income Tax Act, dismissing the assessee's objection regarding the absence of incriminating material. The Tribunal directed a re-examination of the disallowance of expenses and the addition of undisclosed income as unexplained share application money and premium, ordering a fresh adjudication by the CIT(A) with specific reference to incriminating documents. The Tribunal remanded the issue of charging interest under Sections 234A and 234B for fresh adjudication. The appeals were allowed for statistical purposes, and the CIT(A) was directed to provide reasoned orders for all assessment years under consideration. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395075