https://www.taxtmi.com/caselaws?id=461418 Search assessments under section 153A may rely on incriminating documents found in a common search, even if those papers were recovered from the premises of another connected person; the jurisdictional objection on that basis was rejected. Additions under section 69 relating to alleged loans and interest were restored for fresh adjudication because a later criminal court order constituted material evidence requiring consideration and a proper opportunity of hearing. The closing stock and VAT adjustment issue under section 145A for AY 2009-10 was also remanded, with the Tribunal noting that inventory valuation must be applied consistently to opening stock, purchases and closing stock, subject to verification of the figures. en-us Wed, 17 Oct 2018 00:00:00 +0530 Fri, 04 Apr 2025 14:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461418 Search assessments under section 153A may rely on incriminating documents found in a common search, even if those papers were recovered from the premises of another connected person; the jurisdictional objection on that basis was rejected. Additions under section 69 relating to alleged loans and interest were restored for fresh adjudication because a later criminal court order constituted material evidence requiring consideration and a proper opportunity of hearing. The closing stock and VAT adjustment issue under section 145A for AY 2009-10 was also remanded, with the Tribunal noting that inventory valuation must be applied consistently to opening stock, purchases and closing stock, subject to verification of the figures. Case-Laws Income Tax Wed, 17 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461418