https://www.taxtmi.com/caselaws?id=772687 ITAT Guwahati allowed the appeal, deleting additions made under section 68 for loans and interest expenses in assessment under section 153C. The Tribunal held that survey findings cannot be utilized in section 153C proceedings without incriminating material found during search. Following precedent from SC in Abhisar Buildwell case, additions for difference in sales, unexplained cash credits, and interest on bogus loans were deleted. Issues regarding GMC tax treatment and disallowance under section 40A(3) were remanded to AO for verification and proper documentation. en-us Thu, 29 May 2025 00:00:00 +0530 Thu, 12 Jun 2025 07:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772687 ITAT Guwahati allowed the appeal, deleting additions made under section 68 for loans and interest expenses in assessment under section 153C. The Tribunal held that survey findings cannot be utilized in section 153C proceedings without incriminating material found during search. Following precedent from SC in Abhisar Buildwell case, additions for difference in sales, unexplained cash credits, and interest on bogus loans were deleted. Issues regarding GMC tax treatment and disallowance under section 40A(3) were remanded to AO for verification and proper documentation. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772687