https://www.taxtmi.com/caselaws?id=369529 The Tribunal found that the assessment for AY 2009-10 was unabated as it was not pending during the search, thus additions could only be made based on incriminating material found during the search. Since no such material was found, the AO's assessment was deemed justified. The Tribunal held that the AO's order was not erroneous or prejudicial to revenue interests, leading to the quashing of the Pr. CIT's Section 263 order. Consequently, the assessee's appeal was allowed, with the Tribunal determining that the Pr. CIT's jurisdiction under Section 263 was unfounded. en-us Wed, 12 Sep 2018 00:00:00 +0530 Tue, 30 Oct 2018 10:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369529 The Tribunal found that the assessment for AY 2009-10 was unabated as it was not pending during the search, thus additions could only be made based on incriminating material found during the search. Since no such material was found, the AO's assessment was deemed justified. The Tribunal held that the AO's order was not erroneous or prejudicial to revenue interests, leading to the quashing of the Pr. CIT's Section 263 order. Consequently, the assessee's appeal was allowed, with the Tribunal determining that the Pr. CIT's jurisdiction under Section 263 was unfounded. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369529