https://www.taxtmi.com/caselaws?id=439999 In search assessments under section 153A, concluded years cannot be disturbed without incriminating search material; additions based only on regular books and assessment records were deleted. The nature of receipts from sale of flats was determined on the assessee's overall conduct and investment pattern, and the flats were treated as capital assets rather than trading stock; the unsold flat therefore could not be directed to be treated as stock-in-trade. The section 69C addition failed for want of corroboration of the alleged expenditure, while the section 14A disallowance was confined to the administrative component because own funds were sufficient for the investments. en-us Tue, 20 Jun 2023 00:00:00 +0530 Fri, 01 Sep 2023 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439999 In search assessments under section 153A, concluded years cannot be disturbed without incriminating search material; additions based only on regular books and assessment records were deleted. The nature of receipts from sale of flats was determined on the assessee's overall conduct and investment pattern, and the flats were treated as capital assets rather than trading stock; the unsold flat therefore could not be directed to be treated as stock-in-trade. The section 69C addition failed for want of corroboration of the alleged expenditure, while the section 14A disallowance was confined to the administrative component because own funds were sufficient for the investments. Case-Laws Income Tax Tue, 20 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439999