https://www.taxtmi.com/caselaws?id=262092 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. It upheld the deletion of the addition under Section 68, found no violation of Rule 46A, and ruled the reassessment under Section 153A invalid due to the absence of incriminating material. The Tribunal emphasized the necessity of incriminating evidence for making additions under Section 153A, aligning with the Special Bench decision in All Cargo Logistics Ltd. and the Bombay High Court's endorsement of the same. en-us Fri, 29 May 2015 00:00:00 +0530 Sat, 01 Aug 2015 08:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262092 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. It upheld the deletion of the addition under Section 68, found no violation of Rule 46A, and ruled the reassessment under Section 153A invalid due to the absence of incriminating material. The Tribunal emphasized the necessity of incriminating evidence for making additions under Section 153A, aligning with the Special Bench decision in All Cargo Logistics Ltd. and the Bombay High Court's endorsement of the same. Case-Laws Income Tax Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262092