https://www.taxtmi.com/caselaws?id=299941 In a Section 153A assessment, additions and disallowances cannot be sustained unless they are based on incriminating material found during search. The Tribunal's view was supported by binding precedent that assessment under Section 153A does not permit independent additions on issues not founded on search material, including claims under Section 41(1) and alleged unaccounted purchase and sale. On that basis, the additions were held unsustainable in the absence of incriminating material, and the issue was answered against the Revenue. en-us Tue, 20 Feb 2018 00:00:00 +0530 Thu, 06 Jan 2022 07:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299941 In a Section 153A assessment, additions and disallowances cannot be sustained unless they are based on incriminating material found during search. The Tribunal's view was supported by binding precedent that assessment under Section 153A does not permit independent additions on issues not founded on search material, including claims under Section 41(1) and alleged unaccounted purchase and sale. On that basis, the additions were held unsustainable in the absence of incriminating material, and the issue was answered against the Revenue. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299941