https://www.taxtmi.com/caselaws?id=351339 The Tribunal allowed the appeal, ruling that the addition of unexplained share application money under section 153A of the I.T. Act lacked jurisdiction as no incriminating material was found during the search. Citing the judgment in CIT vs. Kabul Chawla, the Tribunal emphasized the necessity of incriminating material for such additions under section 153A. As no incriminating material was referred to in the assessment order and the time for issuing notice under section 143(2) had expired before the search, the Tribunal concluded that the addition was without legal basis and deleted the amount, allowing the assessee's appeal. en-us Tue, 21 Nov 2017 00:00:00 +0530 Thu, 23 Nov 2017 13:41:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351339 The Tribunal allowed the appeal, ruling that the addition of unexplained share application money under section 153A of the I.T. Act lacked jurisdiction as no incriminating material was found during the search. Citing the judgment in CIT vs. Kabul Chawla, the Tribunal emphasized the necessity of incriminating material for such additions under section 153A. As no incriminating material was referred to in the assessment order and the time for issuing notice under section 143(2) had expired before the search, the Tribunal concluded that the addition was without legal basis and deleted the amount, allowing the assessee's appeal. Case-Laws Income Tax Tue, 21 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351339