https://www.taxtmi.com/caselaws?id=471502 Assessments pending on the search date abate under section 153A and must be completed as regular assessments; consequently, incriminating material is not determinative of additions. Disclosure of investments in balance sheets does not establish their source, and the assessee must explain the source of investment. Family-member gifts supported only by declarations require verification where they cannot be independently verified and have not been examined by the assessing authority. Additions for unexplained investments were therefore set aside for verification of the claimed gifts. en-us Mon, 23 Dec 2019 00:00:00 +0530 Mon, 07 Sep 2026 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471502 Assessments pending on the search date abate under section 153A and must be completed as regular assessments; consequently, incriminating material is not determinative of additions. Disclosure of investments in balance sheets does not establish their source, and the assessee must explain the source of investment. Family-member gifts supported only by declarations require verification where they cannot be independently verified and have not been examined by the assessing authority. Additions for unexplained investments were therefore set aside for verification of the claimed gifts. Case-Laws Income Tax Mon, 23 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471502