https://www.taxtmi.com/caselaws?id=381835 The Tribunal ruled in favor of the appellant, holding that the assessment under section 153A was invalid due to the absence of incriminating material found during the search. The credit card expenses, amounting to Rs. 10,27,552, were deemed not taxable as perquisites as they were incurred wholly and exclusively for the business of the company. The Tribunal ordered the deletion of the addition made by the Assessing Officer, citing the lack of incriminating material and the business purpose of the expenses. en-us Mon, 25 Feb 2019 00:00:00 +0530 Wed, 19 Jun 2019 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381835 The Tribunal ruled in favor of the appellant, holding that the assessment under section 153A was invalid due to the absence of incriminating material found during the search. The credit card expenses, amounting to Rs. 10,27,552, were deemed not taxable as perquisites as they were incurred wholly and exclusively for the business of the company. The Tribunal ordered the deletion of the addition made by the Assessing Officer, citing the lack of incriminating material and the business purpose of the expenses. Case-Laws Income Tax Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381835