https://www.taxtmi.com/caselaws?id=348093 The Bombay HC upheld the tribunal's decision to delete additions made under Sections 68 and 14A during assessment proceedings under Sections 153A/153C. The court held that additions made by the Assessing Officer lacked supporting incriminating material and were therefore unsustainable. The HC relied on precedents from SKS Ispat Power Limited and Continental Warehousing Corporation cases, emphasizing that without incriminating evidence, such additions cannot be justified in search and seizure assessments. The tribunal's approach was deemed correct in deleting the Section 68 additions, following the established legal principle that requires concrete evidence to support additions in cases involving unexplained cash credits. The decision went against the revenue department's appeal. en-us Mon, 11 Sep 2017 00:00:00 +0530 Wed, 08 Apr 2026 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348093 The Bombay HC upheld the tribunal's decision to delete additions made under Sections 68 and 14A during assessment proceedings under Sections 153A/153C. The court held that additions made by the Assessing Officer lacked supporting incriminating material and were therefore unsustainable. The HC relied on precedents from SKS Ispat Power Limited and Continental Warehousing Corporation cases, emphasizing that without incriminating evidence, such additions cannot be justified in search and seizure assessments. The tribunal's approach was deemed correct in deleting the Section 68 additions, following the established legal principle that requires concrete evidence to support additions in cases involving unexplained cash credits. The decision went against the revenue department's appeal. Case-Laws Income Tax Mon, 11 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348093