ITAT Nagpur Upholds Section 153C proceedings & Section 69A income additions

ACIT Vs Unique Realities Builders & Developers (ITAT Nagpur) Income Tax Appellate Tribunal (ITAT) Nagpur Bench rendered a decision concerning the validity of proceedings under Section 153C and the addition of income under Section 69A of the Income Tax Act. Brief facts: During a search operation, documents were seized that the Assessing Officer (AO) contended pertained to Unique Realities Builders & Developers (the assessee). Based on these documents, the AO initiated proceedings under Section 153C and made additions to the assessee’s income under Section 69A, citing unexplained money...