https://www.taxtmi.com/caselaws?id=778354 ITAT AHMEDABAD held that where an assessee was also searched, the AO may rely on loose papers seized from a third party in proceedings under s.153A; the CIT(A)'s view that such material is usable only under s.153C was disapproved. However, for assessment years already completed at the time of search, additions resting solely on third-party papers without incriminating material seized from the assessee were unsustainable and those grounds were decided against the Revenue. Deletion of disallowance under s.40A(2)(b) was upheld for lack of objective material, while the CIT(A)'s telescoping of undisclosed land profits was affirmed and an assessed amount of Rs.2.54 crore was sustained. en-us Mon, 08 Sep 2025 00:00:00 +0530 Mon, 15 Sep 2025 08:26:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778354 ITAT AHMEDABAD held that where an assessee was also searched, the AO may rely on loose papers seized from a third party in proceedings under s.153A; the CIT(A)'s view that such material is usable only under s.153C was disapproved. However, for assessment years already completed at the time of search, additions resting solely on third-party papers without incriminating material seized from the assessee were unsustainable and those grounds were decided against the Revenue. Deletion of disallowance under s.40A(2)(b) was upheld for lack of objective material, while the CIT(A)'s telescoping of undisclosed land profits was affirmed and an assessed amount of Rs.2.54 crore was sustained. Case-Laws Income Tax Mon, 08 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778354