https://www.taxtmi.com/caselaws?id=445446 ITAT Bangalore held that additions for undisclosed partnership firm investments should be made against the firm, not individual partners, as firms are separate entities. Documents found during survey cannot be used for assessment under section 153A without proper verification. The tribunal accepted that running capital accounts allow cash contributions and withdrawals as needed. However, regarding undisclosed commission and seized cash, the matter was remanded to AO for fresh verification due to conflicting stands taken by the assessee and lack of compliance with notices before CIT(Appeals). en-us Tue, 31 Oct 2023 00:00:00 +0530 Tue, 07 Nov 2023 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445446 ITAT Bangalore held that additions for undisclosed partnership firm investments should be made against the firm, not individual partners, as firms are separate entities. Documents found during survey cannot be used for assessment under section 153A without proper verification. The tribunal accepted that running capital accounts allow cash contributions and withdrawals as needed. However, regarding undisclosed commission and seized cash, the matter was remanded to AO for fresh verification due to conflicting stands taken by the assessee and lack of compliance with notices before CIT(Appeals). Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445446