https://www.taxtmi.com/caselaws?id=431721 The Tribunal upheld the validity of proceedings under Section 153C of the Income Tax Act, confirming that the Assessing Officer had recorded the necessary satisfaction for initiating the proceedings based on seized materials related to the assessee's real estate business. Additionally, the Tribunal supported the additions made by the AO, citing the assessee's failure to file returns and lack of evidence. The Tribunal also upheld the penalty proceedings under Section 271(1)(c), emphasizing the assessee's willful non-compliance despite having taxable income. All appeals by the assessee were dismissed, affirming the decisions of the Commissioner of Income Tax (Appeals). en-us Wed, 30 Nov 2022 00:00:00 +0530 Tue, 20 Dec 2022 10:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431721 The Tribunal upheld the validity of proceedings under Section 153C of the Income Tax Act, confirming that the Assessing Officer had recorded the necessary satisfaction for initiating the proceedings based on seized materials related to the assessee's real estate business. Additionally, the Tribunal supported the additions made by the AO, citing the assessee's failure to file returns and lack of evidence. The Tribunal also upheld the penalty proceedings under Section 271(1)(c), emphasizing the assessee's willful non-compliance despite having taxable income. All appeals by the assessee were dismissed, affirming the decisions of the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431721