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of <h1>Supreme Court Upholds High Court Ruling: Tax Assessments u/s 153-C Need Incriminating Evidence.</h1> The Supreme Court of India addressed the validity of assessments under Section 153-C of the Income Tax Act, 1961, emphasizing that such assessments require incriminating material discovered during search operations. The Court dismissed appeals by the Revenue against a High Court ruling that invalidated assessment orders due to the absence of such material. While upholding the High Court's decision, the Supreme Court acknowledged the potential for re-assessment proceedings under Sections 147/148 if legally justified. This judgment underscores the necessity for evidence-based tax assessments and delineates the boundaries of tax authority powers, ensuring adherence to legal standards and taxpayer protections.
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