https://www.taxtmi.com/caselaws?id=298754 The Tribunal held that the assessment proceedings under Section 153A were invalid for the assessment year 2007-08 due to the absence of incriminating material. However, for the same year, an addition of Rs. 7.05 lakhs towards unexplained investment in the cost of property purchase was upheld. Regarding the unexplained investment in construction, the Tribunal recalculated the cost and sustained an addition of Rs. 28.01 lakhs. The Tribunal directed the Assessing Officer to tax this addition in the assessment year 2012-13. en-us Thu, 31 May 2018 00:00:00 +0530 Fri, 19 Nov 2021 09:17:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298754 The Tribunal held that the assessment proceedings under Section 153A were invalid for the assessment year 2007-08 due to the absence of incriminating material. However, for the same year, an addition of Rs. 7.05 lakhs towards unexplained investment in the cost of property purchase was upheld. Regarding the unexplained investment in construction, the Tribunal recalculated the cost and sustained an addition of Rs. 28.01 lakhs. The Tribunal directed the Assessing Officer to tax this addition in the assessment year 2012-13. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298754