https://www.taxtmi.com/caselaws?id=354296 The Tribunal deemed the assessments under section 153A illegal as no incriminating material was found during the search. The additions under section 68 for unexplained cash credit were deleted as the assessee proved the genuineness of transactions. Violation of Rule 46A was not established. The application of section 56(2)(viib) was deemed inapplicable. Disallowances under sections 14A and 37(1) were deleted as no expenditure was incurred for exempt income and no deduction was claimed for VAT penalties. All departmental appeals were dismissed, and the assessee's cross objections were allowed. en-us Wed, 17 Jan 2018 00:00:00 +0530 Wed, 28 Feb 2018 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354296 The Tribunal deemed the assessments under section 153A illegal as no incriminating material was found during the search. The additions under section 68 for unexplained cash credit were deleted as the assessee proved the genuineness of transactions. Violation of Rule 46A was not established. The application of section 56(2)(viib) was deemed inapplicable. Disallowances under sections 14A and 37(1) were deleted as no expenditure was incurred for exempt income and no deduction was claimed for VAT penalties. All departmental appeals were dismissed, and the assessee's cross objections were allowed. Case-Laws Income Tax Wed, 17 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354296