https://www.taxtmi.com/caselaws?id=470541 For concluded, unabated assessments, additions under Section 153A require incriminating material found during the search and connected with the specific addition; additions lacking such material cannot be sustained. Commodity-trading losses cannot be treated as fictitious merely on exchange or broker data and untested third-party allegations where no nexus, synchronised trading, or contrived losses is proved. Disallowance of expenditure relating to exempt income requires recorded satisfaction and a demonstrated nexus with interest-bearing funds, and cannot mechanically increase book profit. Unexplained-credit additions fail where supporting evidence and remand-report material substantiate the taxpayer's explanation. en-us Thu, 25 Nov 2021 00:00:00 +0530 Thu, 30 Jul 2026 16:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470541 For concluded, unabated assessments, additions under Section 153A require incriminating material found during the search and connected with the specific addition; additions lacking such material cannot be sustained. Commodity-trading losses cannot be treated as fictitious merely on exchange or broker data and untested third-party allegations where no nexus, synchronised trading, or contrived losses is proved. Disallowance of expenditure relating to exempt income requires recorded satisfaction and a demonstrated nexus with interest-bearing funds, and cannot mechanically increase book profit. Unexplained-credit additions fail where supporting evidence and remand-report material substantiate the taxpayer's explanation. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470541