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2016 (6) TMI 585 - AT - Income TaxAssessment u/s 153A r/w s. 143(3) - The assessments presently under appeal before us (as well as the corresponding penalty appeals) are consequent to a search action u/s. 132(1) of the Act at the assessee’s different, as it appears, Short Street and Camac Street premises, at Kolkata on 05.1.2007. The same formed part of a concerted action by the Revenue on Hassan Ali Khan and other related parties at different place across India. Various issues of additions towards unexplained investments / deposits, unexplained expenditure, dis-allowances and set off of losses including Admission of additional evidences by the tribunal, presumption that the document found during search as true and correct - All the quantum appeals are partly allowed.
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