https://www.taxtmi.com/caselaws?id=433534 The Tribunal partly allowed the appeal, remitting certain issues back to the CIT(A) for fresh decisions with proper opportunities for the assessee. The Tribunal dismissed grounds related to the validity of assessment based on the search warrant and the existence of incriminating material during the search, as these were withdrawn by the appellant. It also directed a re-examination of the disallowance of unexplained expenditure due to lack of opportunity provided. The addition of shares value under section 56(2)(viia) was deleted, considering the holding-subsidiary relationship between the parties. en-us Wed, 21 Dec 2022 00:00:00 +0530 Thu, 02 Feb 2023 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433534 The Tribunal partly allowed the appeal, remitting certain issues back to the CIT(A) for fresh decisions with proper opportunities for the assessee. The Tribunal dismissed grounds related to the validity of assessment based on the search warrant and the existence of incriminating material during the search, as these were withdrawn by the appellant. It also directed a re-examination of the disallowance of unexplained expenditure due to lack of opportunity provided. The addition of shares value under section 56(2)(viia) was deleted, considering the holding-subsidiary relationship between the parties. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433534