https://www.taxtmi.com/caselaws?id=296642 The High Court dismissed the appeal and upheld the decision to set aside the search assessment under Section 68 of the Income Tax Act, 1961, due to the absence of incriminating materials justifying the addition of a sum of Rs. 5,62,61,726 to the tax. The Court emphasized that the additions were made without any new incriminating material seized, following the precedent set in Commissioner of Income Tax v. Kabul Chawla 380 ITR 573, thereby concluding that the addition in the search assessment was not valid. en-us Mon, 12 Feb 2018 00:00:00 +0530 Fri, 30 Jul 2021 21:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296642 The High Court dismissed the appeal and upheld the decision to set aside the search assessment under Section 68 of the Income Tax Act, 1961, due to the absence of incriminating materials justifying the addition of a sum of Rs. 5,62,61,726 to the tax. The Court emphasized that the additions were made without any new incriminating material seized, following the precedent set in Commissioner of Income Tax v. Kabul Chawla 380 ITR 573, thereby concluding that the addition in the search assessment was not valid. Case-Laws Income Tax Mon, 12 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296642