https://www.taxtmi.com/caselaws?id=762203 ITAT Jaipur dismissed revenue's appeal regarding unexplained investments in hotel construction under section 153A. The tribunal held that AO lacked jurisdiction as incriminating documents were found during search of premises other than the assessee. CIT(A)'s deletion of additions was upheld across multiple grounds including undisclosed income from property development and unexplained residential construction investments. The tribunal emphasized that mere material found during search cannot be treated as incriminating evidence without specific proof of guilt. Revenue failed to challenge CIT(A)'s jurisdictional findings and provided no specific discrepancies in valuation reports, resulting in dismissal of all grounds. en-us Thu, 03 Oct 2024 00:00:00 +0530 Tue, 26 Nov 2024 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762203 ITAT Jaipur dismissed revenue's appeal regarding unexplained investments in hotel construction under section 153A. The tribunal held that AO lacked jurisdiction as incriminating documents were found during search of premises other than the assessee. CIT(A)'s deletion of additions was upheld across multiple grounds including undisclosed income from property development and unexplained residential construction investments. The tribunal emphasized that mere material found during search cannot be treated as incriminating evidence without specific proof of guilt. Revenue failed to challenge CIT(A)'s jurisdictional findings and provided no specific discrepancies in valuation reports, resulting in dismissal of all grounds. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762203