https://www.taxtmi.com/caselaws?id=766030 Third-party search material, including a pen drive, could not support an addition for alleged cash receipt on share sale where the assessee's connection with the entries was not proved by independent corroboration; the addition was therefore unsustainable and deleted. The assessment was also held to be without lawful authority because the Additional Commissioner had not been shown to be specifically empowered under section 120(4)(b) and no valid transfer of jurisdiction under section 127 was produced. As the defect went to inherent jurisdiction, the assessment was void ab initio and quashed. The Revenue's appeal failed, while the assessee's jurisdictional challenge succeeded. en-us Wed, 12 Feb 2025 00:00:00 +0530 Fri, 14 Feb 2025 17:37:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766030 Third-party search material, including a pen drive, could not support an addition for alleged cash receipt on share sale where the assessee's connection with the entries was not proved by independent corroboration; the addition was therefore unsustainable and deleted. The assessment was also held to be without lawful authority because the Additional Commissioner had not been shown to be specifically empowered under section 120(4)(b) and no valid transfer of jurisdiction under section 127 was produced. As the defect went to inherent jurisdiction, the assessment was void ab initio and quashed. The Revenue's appeal failed, while the assessee's jurisdictional challenge succeeded. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766030