https://www.taxtmi.com/caselaws?id=334271 The Tribunal held that the assumption of jurisdiction under Section 153C of the Income-tax Act was not justified as the additions were based on third-party statements without any incriminating material seized from the assessee. The assessment framed under Section 153A/143(3) was deemed invalid as no incriminating material was found during the search. The addition made by the Assessing Officer on unaccounted purchases was deleted due to lack of corroborative evidence. The Tribunal emphasized the importance of corroborative evidence and dismissed the Revenue's appeal, concluding that no additions could be made without incriminating material. en-us Fri, 30 Sep 2016 00:00:00 +0530 Tue, 08 Nov 2016 11:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334271 The Tribunal held that the assumption of jurisdiction under Section 153C of the Income-tax Act was not justified as the additions were based on third-party statements without any incriminating material seized from the assessee. The assessment framed under Section 153A/143(3) was deemed invalid as no incriminating material was found during the search. The addition made by the Assessing Officer on unaccounted purchases was deleted due to lack of corroborative evidence. The Tribunal emphasized the importance of corroborative evidence and dismissed the Revenue's appeal, concluding that no additions could be made without incriminating material. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334271