https://www.taxtmi.com/caselaws?id=417420 The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals, holding that additions under Section 2(22)(e) were not justified due to the lack of incriminating material. It emphasized the strict interpretation of deeming provisions and the necessity of incriminating material for additions under Section 153A. The Tribunal clarified that assessments under Section 153A should be based on material found during the search, especially for completed assessments, in line with judicial precedents like CIT vs. Kabul Chawla. en-us Thu, 13 Jan 2022 00:00:00 +0530 Sat, 22 Jan 2022 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417420 The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals, holding that additions under Section 2(22)(e) were not justified due to the lack of incriminating material. It emphasized the strict interpretation of deeming provisions and the necessity of incriminating material for additions under Section 153A. The Tribunal clarified that assessments under Section 153A should be based on material found during the search, especially for completed assessments, in line with judicial precedents like CIT vs. Kabul Chawla. Case-Laws Income Tax Thu, 13 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417420