https://www.taxtmi.com/caselaws?id=284466 The Tribunal held that assessments under Section 153A of the Income Tax Act were not valid in the absence of incriminating material found during search operations. Consequently, additions made by the Assessing Officer were deleted as they were arbitrary and not supported by seized materials. The Tribunal also ruled that an addition of Rs. 3,66,311 due to a discrepancy in bank loan amounts was unjustified and deleted. All appeals were allowed in favor of the assessees, with the decision announced on 08/07/2019. en-us Mon, 08 Jul 2019 00:00:00 +0530 Wed, 20 Nov 2019 10:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284466 The Tribunal held that assessments under Section 153A of the Income Tax Act were not valid in the absence of incriminating material found during search operations. Consequently, additions made by the Assessing Officer were deleted as they were arbitrary and not supported by seized materials. The Tribunal also ruled that an addition of Rs. 3,66,311 due to a discrepancy in bank loan amounts was unjustified and deleted. All appeals were allowed in favor of the assessees, with the decision announced on 08/07/2019. Case-Laws Income Tax Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284466