https://www.taxtmi.com/caselaws?id=293545 The Tribunal quashed the assessments framed under Section 153A of the Income Tax Act as no incriminating material was found during the search, thus concluding that the concluded assessments could not be reopened. The Tribunal allowed business promotion expenses incurred before 01.08.2012, directing re-examination for expenses post that date. It directed the AO to re-examine the disallowance of discounts given to customers and bad debts written off. Additionally, the Tribunal instructed a re-examination of the treatment of seized cash, cash deposits in the bank account, and undisclosed cash sales, emphasizing proper scrutiny of evidence. en-us Mon, 29 Jan 2018 00:00:00 +0530 Wed, 17 Feb 2021 21:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293545 The Tribunal quashed the assessments framed under Section 153A of the Income Tax Act as no incriminating material was found during the search, thus concluding that the concluded assessments could not be reopened. The Tribunal allowed business promotion expenses incurred before 01.08.2012, directing re-examination for expenses post that date. It directed the AO to re-examine the disallowance of discounts given to customers and bad debts written off. Additionally, the Tribunal instructed a re-examination of the treatment of seized cash, cash deposits in the bank account, and undisclosed cash sales, emphasizing proper scrutiny of evidence. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293545