https://www.taxtmi.com/caselaws?id=358018 The Tribunal quashed the proceedings initiated under Section 153A for assessment years 2006-07 and 2008-09, as no incriminating material was found during the search. The treatment of capital gains as business income was not upheld due to lack of supporting evidence. The reassessment under Section 153A was deemed invalid without incriminating material. The appeals by the assessee were allowed, and the proceedings were terminated. en-us Wed, 28 Mar 2018 00:00:00 +0530 Wed, 04 Apr 2018 06:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358018 The Tribunal quashed the proceedings initiated under Section 153A for assessment years 2006-07 and 2008-09, as no incriminating material was found during the search. The treatment of capital gains as business income was not upheld due to lack of supporting evidence. The reassessment under Section 153A was deemed invalid without incriminating material. The appeals by the assessee were allowed, and the proceedings were terminated. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358018