https://www.taxtmi.com/caselaws?id=396395 The ITAT ruled in favor of the appellant, determining that the addition of Rs. 3,50,00,000 under Section 68 of the Income Tax Act was unjustified due to the absence of incriminating material post-search. The Tribunal emphasized that additions under Section 153A should be based on seized material, and without such evidence, the completed assessments should remain unchanged. Consequently, the Tribunal allowed the appeal, ordering the deletion of the addition, and underscored the necessity of incriminating evidence for valid additions under the Income Tax Act. en-us Mon, 20 Apr 2020 00:00:00 +0530 Fri, 08 Nov 2024 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396395 The ITAT ruled in favor of the appellant, determining that the addition of Rs. 3,50,00,000 under Section 68 of the Income Tax Act was unjustified due to the absence of incriminating material post-search. The Tribunal emphasized that additions under Section 153A should be based on seized material, and without such evidence, the completed assessments should remain unchanged. Consequently, the Tribunal allowed the appeal, ordering the deletion of the addition, and underscored the necessity of incriminating evidence for valid additions under the Income Tax Act. Case-Laws Income Tax Mon, 20 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396395