https://www.taxtmi.com/caselaws?id=469531 In unabated search assessments under section 153A of the Income-tax Act, additions can survive only on the basis of incriminating material found during search, so alleged accommodation-loan additions under section 68 were deleted where no such material existed. For alleged on-money receipts from flat sales, the profit element had to be estimated on a reasonable, evidence-based basis; the 15% rate was found unsupported by comparables or other evidence, and the lower net profit profile of the projects justified restriction to 9%. The assessee received partial relief on both issues. en-us Fri, 07 Mar 2025 00:00:00 +0530 Sat, 20 Jun 2026 11:35:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469531 In unabated search assessments under section 153A of the Income-tax Act, additions can survive only on the basis of incriminating material found during search, so alleged accommodation-loan additions under section 68 were deleted where no such material existed. For alleged on-money receipts from flat sales, the profit element had to be estimated on a reasonable, evidence-based basis; the 15% rate was found unsupported by comparables or other evidence, and the lower net profit profile of the projects justified restriction to 9%. The assessee received partial relief on both issues. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469531