https://www.taxtmi.com/caselaws?id=387240 The Tribunal dismissed the Department's appeals and allowed the Assessee's Cross Objections. It found no justification for assuming jurisdiction under section 153C of the Income Tax Act, as no incriminating material was found during the search. Additionally, the Tribunal held that the addition on account of unexplained investment lacked evidence and was based on presumption, ultimately quashing the proceedings and setting aside the lower authorities' orders. en-us Mon, 14 Oct 2019 00:00:00 +0530 Thu, 14 Jul 2022 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387240 The Tribunal dismissed the Department's appeals and allowed the Assessee's Cross Objections. It found no justification for assuming jurisdiction under section 153C of the Income Tax Act, as no incriminating material was found during the search. Additionally, the Tribunal held that the addition on account of unexplained investment lacked evidence and was based on presumption, ultimately quashing the proceedings and setting aside the lower authorities' orders. Case-Laws Income Tax Mon, 14 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387240