https://www.taxtmi.com/caselaws?id=344503 The ITAT allowed the appeal filed by the assessee, ruling that the additions made were unjustified as no incriminating material was found during the search proceedings. The addition of alleged accommodation entries and reliance on non-incriminating material were deemed improper. The failure to provide a fair opportunity of being heard, including the lack of cross-examination, violated principles of natural justice. Additionally, the levy of interest under section 234B was found inapplicable. The ITAT emphasized the importance of adhering to section 153A and ensuring assessments are based on incriminating material, ultimately ruling in favor of the appellant company. en-us Wed, 05 Apr 2017 00:00:00 +0530 Mon, 19 Jun 2017 07:04:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344503 The ITAT allowed the appeal filed by the assessee, ruling that the additions made were unjustified as no incriminating material was found during the search proceedings. The addition of alleged accommodation entries and reliance on non-incriminating material were deemed improper. The failure to provide a fair opportunity of being heard, including the lack of cross-examination, violated principles of natural justice. Additionally, the levy of interest under section 234B was found inapplicable. The ITAT emphasized the importance of adhering to section 153A and ensuring assessments are based on incriminating material, ultimately ruling in favor of the appellant company. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344503