https://www.taxtmi.com/caselaws?id=218699 The ITAT upheld the CIT(A)'s decision, ruling that the AO's additions of disallowing interest expenditure without incriminating material were not legally sustainable under section 153C of the IT Act. The appeals by the revenue were dismissed, and the disallowances made by the AO for six assessment years were deleted. The ITAT emphasized the necessity for seized items to belong to the assessee for proceedings under section 153C, ultimately concluding that the conditions for issuing notice under this section were not met, rendering the provisions vitiated. en-us Fri, 27 Jul 2012 00:00:00 +0530 Fri, 23 Nov 2012 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218699 The ITAT upheld the CIT(A)'s decision, ruling that the AO's additions of disallowing interest expenditure without incriminating material were not legally sustainable under section 153C of the IT Act. The appeals by the revenue were dismissed, and the disallowances made by the AO for six assessment years were deleted. The ITAT emphasized the necessity for seized items to belong to the assessee for proceedings under section 153C, ultimately concluding that the conditions for issuing notice under this section were not met, rendering the provisions vitiated. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218699