https://www.taxtmi.com/caselaws?id=410850 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. It held that in the absence of incriminating material found during the search, the AO's assumption of jurisdiction under Section 153A was invalid for completed assessments. Consequently, the additions made under Sections 68 and 69C were also deleted. The Tribunal relied on precedents from the Bombay High Court, which supported the view that finalized assessments could not be disturbed without new incriminating evidence. en-us Mon, 09 Aug 2021 00:00:00 +0530 Wed, 11 Aug 2021 09:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410850 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. It held that in the absence of incriminating material found during the search, the AO's assumption of jurisdiction under Section 153A was invalid for completed assessments. Consequently, the additions made under Sections 68 and 69C were also deleted. The Tribunal relied on precedents from the Bombay High Court, which supported the view that finalized assessments could not be disturbed without new incriminating evidence. Case-Laws Income Tax Mon, 09 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410850