https://www.taxtmi.com/caselaws?id=432240 The Tribunal allowed the appeals filed by an educational society, challenging the addition of corpus donation and unsecured loan to their income for A.Ys. 2007-08 to 2009-10. The Tribunal quashed the additions as the revenue failed to prove a search against the assessee, leading to a lack of jurisdiction for assessment under section 153A. The Tribunal also condoned a 1-day delay in filing the appeal and deemed the penalty order under section 271(1)(c) inconsequential. Consequently, the appeals were allowed, and no penalty was applicable. en-us Wed, 21 Dec 2022 00:00:00 +0530 Sat, 31 Dec 2022 08:45:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432240 The Tribunal allowed the appeals filed by an educational society, challenging the addition of corpus donation and unsecured loan to their income for A.Ys. 2007-08 to 2009-10. The Tribunal quashed the additions as the revenue failed to prove a search against the assessee, leading to a lack of jurisdiction for assessment under section 153A. The Tribunal also condoned a 1-day delay in filing the appeal and deemed the penalty order under section 271(1)(c) inconsequential. Consequently, the appeals were allowed, and no penalty was applicable. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432240