https://www.taxtmi.com/caselaws?id=437020 The Tribunal upheld the validity of assessment proceedings under Section 153A, dismissing the legal grounds raised by the assessee. Regarding unaccounted receipts from GHPL, if no income accrued, the addition was deemed unsustainable. The additions of unexplained cash receipts from jewel loans were confirmed, as the difference remained unexplained. The issue of unaccounted cash receipts from M/s. STN Properties Pvt. Ltd. was sent back to the AO for further review. Similarly, the Tribunal set aside the issue of unexplained cash receipts from various parties for reassessment. For unaccounted receipts from land sale, the matter was returned to the AO for fresh consideration. Overall, the appeals were partly allowed for statistical purposes. en-us Wed, 29 Mar 2023 00:00:00 +0530 Wed, 26 Apr 2023 09:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437020 The Tribunal upheld the validity of assessment proceedings under Section 153A, dismissing the legal grounds raised by the assessee. Regarding unaccounted receipts from GHPL, if no income accrued, the addition was deemed unsustainable. The additions of unexplained cash receipts from jewel loans were confirmed, as the difference remained unexplained. The issue of unaccounted cash receipts from M/s. STN Properties Pvt. Ltd. was sent back to the AO for further review. Similarly, the Tribunal set aside the issue of unexplained cash receipts from various parties for reassessment. For unaccounted receipts from land sale, the matter was returned to the AO for fresh consideration. Overall, the appeals were partly allowed for statistical purposes. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437020