https://www.taxtmi.com/caselaws?id=309799 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals and partly allowing the assessee's cross objections. The key outcomes included the invalidation of the jurisdiction to issue notice under section 153A due to the absence of undisclosed assets, the requirement of incriminating material for unabated assessments, and the proper discharge of the burden of proof regarding share application money under section 68. Additionally, the Tribunal directed the AO to recompute interest under section 234A and granted credit of seized cash as self-assessment tax. en-us Fri, 10 Dec 2021 00:00:00 +0530 Thu, 21 Sep 2023 17:25:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309799 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals and partly allowing the assessee's cross objections. The key outcomes included the invalidation of the jurisdiction to issue notice under section 153A due to the absence of undisclosed assets, the requirement of incriminating material for unabated assessments, and the proper discharge of the burden of proof regarding share application money under section 68. Additionally, the Tribunal directed the AO to recompute interest under section 234A and granted credit of seized cash as self-assessment tax. Case-Laws Income Tax Fri, 10 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309799