https://www.taxtmi.com/caselaws?id=409394 The Tribunal allowed the appeal, ruling in favor of the assessee on 15/10/2020. The additions made without incriminating material were deemed legally invalid, leading to the conclusion that no addition was warranted. The Tribunal emphasized the importance of incriminating material in assessments under section 153A and highlighted that the unsecured loan received was substantiated, with no incriminating material found during the search. Therefore, the Tribunal held that the jurisdiction assumed under section 153A was incorrect and that no addition under section 68 was justified. en-us Thu, 15 Oct 2020 00:00:00 +0530 Wed, 07 Jul 2021 09:10:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409394 The Tribunal allowed the appeal, ruling in favor of the assessee on 15/10/2020. The additions made without incriminating material were deemed legally invalid, leading to the conclusion that no addition was warranted. The Tribunal emphasized the importance of incriminating material in assessments under section 153A and highlighted that the unsecured loan received was substantiated, with no incriminating material found during the search. Therefore, the Tribunal held that the jurisdiction assumed under section 153A was incorrect and that no addition under section 68 was justified. Case-Laws Income Tax Thu, 15 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409394