https://www.taxtmi.com/caselaws?id=374287 The Tribunal allowed the appeal, directing the deletion of the addition of Rs. 17,42,50,000/- under section 68. It held that the share capital issue was already examined and accepted in the original assessment, and no new incriminating material was found during the search to justify the addition. The Tribunal concluded that the AO lacked jurisdiction to revisit the share capital issue under section 153A without new incriminating material. Therefore, the addition made under section 153A was deemed unjustified, resulting in the appeal being partly allowed in favor of the assessee. en-us Fri, 30 Nov 2018 00:00:00 +0530 Wed, 30 Jan 2019 08:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374287 The Tribunal allowed the appeal, directing the deletion of the addition of Rs. 17,42,50,000/- under section 68. It held that the share capital issue was already examined and accepted in the original assessment, and no new incriminating material was found during the search to justify the addition. The Tribunal concluded that the AO lacked jurisdiction to revisit the share capital issue under section 153A without new incriminating material. Therefore, the addition made under section 153A was deemed unjustified, resulting in the appeal being partly allowed in favor of the assessee. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374287