https://www.taxtmi.com/caselaws?id=341207 The Tribunal held that the Assessing Officer (A.O.) lacked jurisdiction to make additions towards notional interest on interest-free advances given to sister concerns for the concluded assessments of the years 2005-06 to 2007-08, where no incriminating material was found during the search. Consequently, the Tribunal directed the A.O. to delete the additions made for these years, emphasizing that such additions could only be made based on incriminating material. The appeals filed by the assessee were allowed for these assessment years. en-us Fri, 31 Mar 2017 00:00:00 +0530 Tue, 04 Apr 2017 09:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341207 The Tribunal held that the Assessing Officer (A.O.) lacked jurisdiction to make additions towards notional interest on interest-free advances given to sister concerns for the concluded assessments of the years 2005-06 to 2007-08, where no incriminating material was found during the search. Consequently, the Tribunal directed the A.O. to delete the additions made for these years, emphasizing that such additions could only be made based on incriminating material. The appeals filed by the assessee were allowed for these assessment years. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341207