https://www.taxtmi.com/caselaws?id=329787 The Tribunal allowed the appeal filed by the assessee, holding that the assessment under section 153C was beyond jurisdiction and time-barred. The lump sum disallowance of Rs. 5,00,000 out of business expenses was deemed unjustified without incriminating material and was deleted. The assessment was invalidated due to the absence of any incriminating material found during the search. The Tribunal set aside the assessment order, ruling in favor of the assessee on all grounds. en-us Mon, 06 Jun 2016 00:00:00 +0530 Sat, 09 Jul 2016 11:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329787 The Tribunal allowed the appeal filed by the assessee, holding that the assessment under section 153C was beyond jurisdiction and time-barred. The lump sum disallowance of Rs. 5,00,000 out of business expenses was deemed unjustified without incriminating material and was deleted. The assessment was invalidated due to the absence of any incriminating material found during the search. The Tribunal set aside the assessment order, ruling in favor of the assessee on all grounds. Case-Laws Income Tax Mon, 06 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329787