https://www.taxtmi.com/caselaws?id=411319 The Tribunal held that additions made under section 68 of the Income Tax Act were without jurisdiction due to the absence of incriminating material found during the search. The assessment under section 153A for unabated assessment years was deemed invalid as no incriminating evidence was discovered. The addition of Rs. 2,12,87,885 as unexplained cash credit was deleted as the assessee proved the genuineness of the transaction with sufficient evidence. Consequently, all appeals filed by the assessee were allowed based on these findings. en-us Mon, 26 Jul 2021 00:00:00 +0530 Mon, 23 Aug 2021 08:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411319 The Tribunal held that additions made under section 68 of the Income Tax Act were without jurisdiction due to the absence of incriminating material found during the search. The assessment under section 153A for unabated assessment years was deemed invalid as no incriminating evidence was discovered. The addition of Rs. 2,12,87,885 as unexplained cash credit was deleted as the assessee proved the genuineness of the transaction with sufficient evidence. Consequently, all appeals filed by the assessee were allowed based on these findings. Case-Laws Income Tax Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411319