https://www.taxtmi.com/caselaws?id=411377 The Tribunal partially allowed the appeals of the assessee by granting exemption under Section 11, allowing depreciation, and deleting additions based on unsubstantiated materials. It emphasized the necessity of providing an opportunity for cross-examination and relying on corroborative evidence in assessments. The Tribunal dismissed challenges to the validity of search and seizure, notice issued under Section 153A, status of the assessee, and jurisdiction for the assessment year. It directed the AO to allow capital expenditure and donations as applications of income, and found the extrapolation of income and disallowance of donations under Section 37 not sustainable. en-us Mon, 16 Aug 2021 00:00:00 +0530 Tue, 24 Aug 2021 08:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411377 The Tribunal partially allowed the appeals of the assessee by granting exemption under Section 11, allowing depreciation, and deleting additions based on unsubstantiated materials. It emphasized the necessity of providing an opportunity for cross-examination and relying on corroborative evidence in assessments. The Tribunal dismissed challenges to the validity of search and seizure, notice issued under Section 153A, status of the assessee, and jurisdiction for the assessment year. It directed the AO to allow capital expenditure and donations as applications of income, and found the extrapolation of income and disallowance of donations under Section 37 not sustainable. Case-Laws Income Tax Mon, 16 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411377