https://www.taxtmi.com/caselaws?id=328840 The Tribunal held that the assessments under Section 153A were invalid as no incriminating material was found during the search, leading to the quashing of the assessments. The additions made for unexplained gifts under Section 68 were deleted since no new incriminating material was discovered. The issue of charging interest under Sections 234A, 234B, and 234C became moot following the invalidation of the assessments. Consequently, the appeals were allowed for all assessment years and assessees involved based on the lack of incriminating material. en-us Fri, 29 Apr 2016 00:00:00 +0530 Thu, 16 Jun 2016 13:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328840 The Tribunal held that the assessments under Section 153A were invalid as no incriminating material was found during the search, leading to the quashing of the assessments. The additions made for unexplained gifts under Section 68 were deleted since no new incriminating material was discovered. The issue of charging interest under Sections 234A, 234B, and 234C became moot following the invalidation of the assessments. Consequently, the appeals were allowed for all assessment years and assessees involved based on the lack of incriminating material. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328840