https://www.taxtmi.com/caselaws?id=328418 The Tribunal ruled in favor of the assessee, holding that the addition of &8377; 4 lacs to the income was not justified under section 153A of the Income Tax Act as no incriminating material was found during the search operation. The Tribunal emphasized the requirement of a nexus between additions and seized material for assessments under section 153A, citing a judgment by the High Court. Consequently, the Tribunal allowed the appeal, stating that assessments finalized prior to the search operation do not abate under section 153A, and additions must be based on relevant seized material. en-us Wed, 27 Apr 2016 00:00:00 +0530 Fri, 03 Jun 2016 12:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328418 The Tribunal ruled in favor of the assessee, holding that the addition of &8377; 4 lacs to the income was not justified under section 153A of the Income Tax Act as no incriminating material was found during the search operation. The Tribunal emphasized the requirement of a nexus between additions and seized material for assessments under section 153A, citing a judgment by the High Court. Consequently, the Tribunal allowed the appeal, stating that assessments finalized prior to the search operation do not abate under section 153A, and additions must be based on relevant seized material. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328418