https://www.taxtmi.com/caselaws?id=286998 The tribunal held that the Assessing Officer (AO) lacked jurisdiction to make additions under section 153A for concluded assessments without incriminating material found during the search. It emphasized that additions in unabated assessments should not be made without such evidence, citing relevant precedents. The tribunal also ruled that additions under section 68 for unexplained share application money were unjustified as they were based on disclosed bank statements, not new incriminating material. Consequently, the tribunal allowed the appeals, deleting the additions made by the AO for the assessment years in question. en-us Fri, 28 Jun 2019 00:00:00 +0530 Tue, 24 Mar 2020 10:21:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286998 The tribunal held that the Assessing Officer (AO) lacked jurisdiction to make additions under section 153A for concluded assessments without incriminating material found during the search. It emphasized that additions in unabated assessments should not be made without such evidence, citing relevant precedents. The tribunal also ruled that additions under section 68 for unexplained share application money were unjustified as they were based on disclosed bank statements, not new incriminating material. Consequently, the tribunal allowed the appeals, deleting the additions made by the AO for the assessment years in question. Case-Laws Income Tax Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286998