https://www.taxtmi.com/caselaws?id=764842 ITAT Delhi held that assessment under section 153A initiated beyond 10 years from the relevant assessment year was invalid, following Ojjus Medicare precedent. The assessing officer lacked jurisdiction due to exceeding the statutory limitation period. However, regarding additions of share capital and share premium, the tribunal upheld the assessment validity where incriminating materials were seized during search operations. Following Goldstone Cements precedent, the tribunal found sufficient incriminating material justified the section 153A proceedings. The assessee's appeal succeeded on limitation grounds but failed on substantive additions. en-us Fri, 17 Jan 2025 00:00:00 +0530 Sat, 18 Jan 2025 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764842 ITAT Delhi held that assessment under section 153A initiated beyond 10 years from the relevant assessment year was invalid, following Ojjus Medicare precedent. The assessing officer lacked jurisdiction due to exceeding the statutory limitation period. However, regarding additions of share capital and share premium, the tribunal upheld the assessment validity where incriminating materials were seized during search operations. Following Goldstone Cements precedent, the tribunal found sufficient incriminating material justified the section 153A proceedings. The assessee's appeal succeeded on limitation grounds but failed on substantive additions. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764842