https://www.taxtmi.com/caselaws?id=779487 ITAT, Hyderabad upheld AO's reopening under ss.147/148, holding s.153C is not mandatory where AO lacks recorded satisfaction or remittance of seized material from the searched person. AO permissibly assessed undisclosed investment in land based on seized documents and settlement commission findings, attributing a one-third share to the assessee; that addition was sustained. However, ITAT deleted a separate addition of Rs.20.00 lakh alleged as capital introduced into the partnership, finding no independent material to prove the assessee made that distinct capital contribution. en-us Wed, 22 Jan 2025 00:00:00 +0530 Fri, 03 Oct 2025 11:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779487 ITAT, Hyderabad upheld AO's reopening under ss.147/148, holding s.153C is not mandatory where AO lacks recorded satisfaction or remittance of seized material from the searched person. AO permissibly assessed undisclosed investment in land based on seized documents and settlement commission findings, attributing a one-third share to the assessee; that addition was sustained. However, ITAT deleted a separate addition of Rs.20.00 lakh alleged as capital introduced into the partnership, finding no independent material to prove the assessee made that distinct capital contribution. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779487