S. 153A : Assessment-Search or requisition-Cash credits-Share capital-Share premium-Burden discharged-Proviso to S. 68 inserted w.e.f. 1st April, 2013 is prospective in nature, application from AY. 2013-14 onwards-Addition was deleted [S. 56(2)(vib), 68, 133(6)]

S. 153A : Assessment-Search or requisition-Loose papers-Sale of scrap-Entries were for the financial year 2014-15-Assessee offered the income for the AY. 2015-16- Assessing Officer estimated the income in all units from the assessment years 2009-10 to 2015-16-Addition was deleted-Share capital-Group companies-Sufficient source-Addition was deleted. [S. 68]

S. 153A : Assessment-Search or requisition-Search and seizure-Wrongly adopting the figure of unaccounted assets in place of the unaccounted capital offered by the assessee in the return of income-Deletion of addition was affirmed.

S. 153A : Assessment-Search or Requisition-Seized material had not been corroborated-Addition was deleted. [S. 4, Indian Evidence Act, 1872, S. 65B(4)]

S. 153A : Assessment-Search or requisition-Settlement Commission-Assessment of third person-Double taxation-Long-term capital gains-Capital gains relating to assessee already disclosed and taxed in hands of firm, in which the assessee was partner, and accepted by Settlement Commission-Cannot be taxed again in hands of assessee. [S. 10(38), 45, 132, 153C, 245A(4), 245D]

S. 153A : Assessment-Search or requisition-No notice was issued on original return filed-Assessment proceedings not pending on date of search-Addition is not valid. [S. 143(1), 143(2)]

S. 153A : Assessment-Search or requisition-Assessment of third person-Agricultural land at time of transfer and put to agricultural operations-Purchaser of land used for non-agricultural purpose not relevant in determining nature of aassets sold by aaassessee on date of sale-Sale consideration cannot be assessed as business income-Order of CIT(A) is affirmed. [S. 10(38), 28(i), 45]

S. 153A : Assessment-Search or requisition-Bogus Purchases-Additions made for bogus purchases in name of assessee’s concern-Additions made to similar amounts in hands of assessee amounts to double addition. [S. 132]

S. 153A : Assessment-Search or requisition-Unexplained money-Assessment of third party-Cash Deposits-Routed through books of accounts-Books of accounts not rejected-Additions made on mere conjecture not sustainable.[S. 69A]

S. 153A : Assessment-Search or requisition-Unaccounted cash transactions-Compensation received for selling shares-Assessing Officer had not conducted any independent enquiry or made any efforts to corroborate such unaccounted cash transactions with seized material addition was unjustified. [S. 4, 132]