https://www.taxtmi.com/caselaws?id=467697 In an unabated search assessment, section 153C jurisdiction requires seized material that is incriminating and relatable to the assessee; material already on the regular record or not showing incriminating content cannot sustain the assumption of jurisdiction, so the assessment failed. On the section 68 cash credit issue, the assessee produced PAN, financial statements, confirmations and bank records to establish identity, genuineness and creditworthiness of investor companies, and the Revenue did not rebut that evidence with cogent material; the additions based mainly on post-search enquiries and untested third-party statements were therefore unsustainable and were deleted. en-us Mon, 17 Feb 2025 00:00:00 +0530 Mon, 30 Mar 2026 19:50:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467697 In an unabated search assessment, section 153C jurisdiction requires seized material that is incriminating and relatable to the assessee; material already on the regular record or not showing incriminating content cannot sustain the assumption of jurisdiction, so the assessment failed. On the section 68 cash credit issue, the assessee produced PAN, financial statements, confirmations and bank records to establish identity, genuineness and creditworthiness of investor companies, and the Revenue did not rebut that evidence with cogent material; the additions based mainly on post-search enquiries and untested third-party statements were therefore unsustainable and were deleted. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467697