https://www.taxtmi.com/caselaws?id=471809 Section 153A applies to the searched person where seized material warrants inquiry, whereas section 153C concerns material belonging or relating to another person. Remission of a trading liability requires a benefit to the same assessee from a liability previously allowed as a deduction; a joint-venture loan that remains outstanding and is confirmed by the lender does not establish an individual taxable receipt. For completed assessments, additions require material proving undisclosed individual income. Unexplained-investment liability requires proof of the individual's unrecorded investment and an unsatisfactory source explanation. Dealings recorded by a separately assessed company cannot be attributed to its director without evidence of personal payment or investment. en-us Fri, 11 Apr 2025 00:00:00 +0530 Sat, 19 Sep 2026 08:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471809 Section 153A applies to the searched person where seized material warrants inquiry, whereas section 153C concerns material belonging or relating to another person. Remission of a trading liability requires a benefit to the same assessee from a liability previously allowed as a deduction; a joint-venture loan that remains outstanding and is confirmed by the lender does not establish an individual taxable receipt. For completed assessments, additions require material proving undisclosed individual income. Unexplained-investment liability requires proof of the individual's unrecorded investment and an unsatisfactory source explanation. Dealings recorded by a separately assessed company cannot be attributed to its director without evidence of personal payment or investment. Case-Laws Income Tax Fri, 11 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471809