https://www.taxtmi.com/caselaws?id=261044 The Tribunal quashed the assessments framed under Section 153A for the relevant assessment years due to the absence of incriminating material found during the search. Consequently, the additions made under Section 68 and the disallowances under Section 14A were also invalidated. The Tribunal emphasized that assessments under Section 153A should be based on incriminating material and that mere statements without corroborative evidence are insufficient to justify additions. en-us Mon, 22 Jun 2015 00:00:00 +0530 Tue, 30 Jun 2015 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261044 The Tribunal quashed the assessments framed under Section 153A for the relevant assessment years due to the absence of incriminating material found during the search. Consequently, the additions made under Section 68 and the disallowances under Section 14A were also invalidated. The Tribunal emphasized that assessments under Section 153A should be based on incriminating material and that mere statements without corroborative evidence are insufficient to justify additions. Case-Laws Income Tax Mon, 22 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261044