https://www.taxtmi.com/caselaws?id=427532 The court ruled that assessments or re-assessments under Section 153-A of the Income Tax Act can be based on incriminating material found during a search or available during the original assessment. The court emphasized that the Assessing Officer has the power to reassess returns for undisclosed income even if no incriminating material was found during the search. The Tribunal's decision in favor of the Assessee was overturned, and the court directed a reconsideration of the case, ensuring a fair hearing for both parties. en-us Wed, 07 Sep 2022 00:00:00 +0530 Fri, 09 Sep 2022 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427532 The court ruled that assessments or re-assessments under Section 153-A of the Income Tax Act can be based on incriminating material found during a search or available during the original assessment. The court emphasized that the Assessing Officer has the power to reassess returns for undisclosed income even if no incriminating material was found during the search. The Tribunal's decision in favor of the Assessee was overturned, and the court directed a reconsideration of the case, ensuring a fair hearing for both parties. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427532