“Section 3(4)(h)”

The scope of assessment under Section 153A is not limited solely to seized material but includes any other information provided by the assessee in the return of income filed in response to a Section 153A notice. It also applies principles for estimating undisclosed income, such as from on-money receipts, even if there is material for only some transactions.

An assessee is entitled to claim deductions under Section 80IC (and other similar sections like 80IB) for profits derived from job work charges, as carrying out such work is considered part of the manufacturing process of an industrial undertaking.

Where cash sales have already been offered as income, the resulting bank deposits cannot be taxed as unexplained income under Section 69A or 68 of the Act. Deposits arising from cash sales that have been accounted for in the books cannot be treated as unexplained.