https://www.taxtmi.com/caselaws?id=250570 The Tribunal ruled in favor of the assessee, quashing the assessment under section 153A due to the absence of incriminating material found during the search. The reassessment proceedings were deemed invalid without such material. Additionally, the Tribunal upheld the deletion of additions made by the Assessing Officer under sections 68 and 143(3), supporting the CIT(A)'s findings that the transactions were genuine and adequately supported by evidence. The revenue's appeal was dismissed, and the assessee's cross-objection was allowed, resulting in a favorable outcome for the assessee. en-us Thu, 07 Aug 2014 00:00:00 +0530 Mon, 18 Aug 2014 20:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250570 The Tribunal ruled in favor of the assessee, quashing the assessment under section 153A due to the absence of incriminating material found during the search. The reassessment proceedings were deemed invalid without such material. Additionally, the Tribunal upheld the deletion of additions made by the Assessing Officer under sections 68 and 143(3), supporting the CIT(A)'s findings that the transactions were genuine and adequately supported by evidence. The revenue's appeal was dismissed, and the assessee's cross-objection was allowed, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250570