https://www.taxtmi.com/caselaws?id=466122 Assessment under Section 153A was held outside the 'relevant assessment year' where the notice related to an assessment year beyond the ten assessment years defined in Explanation 1, rendering that notice and consequent assessment void ab initio for that year. For unaccounted cash receipts from sale of spent solvents and scrap, the tribunal directed allowance of 60% as expenditure and treated 40% as taxable income, following earlier decisions. The satisfaction note supporting issuance of notice u/s 153A was found to be supported by incriminating material and books/documents showing income represented as assets, validating assumption of jurisdiction for the remaining assessment years. en-us Tue, 04 Feb 2025 00:00:00 +0530 Fri, 16 Jan 2026 11:40:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466122 Assessment under Section 153A was held outside the 'relevant assessment year' where the notice related to an assessment year beyond the ten assessment years defined in Explanation 1, rendering that notice and consequent assessment void ab initio for that year. For unaccounted cash receipts from sale of spent solvents and scrap, the tribunal directed allowance of 60% as expenditure and treated 40% as taxable income, following earlier decisions. The satisfaction note supporting issuance of notice u/s 153A was found to be supported by incriminating material and books/documents showing income represented as assets, validating assumption of jurisdiction for the remaining assessment years. Case-Laws Income Tax Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466122