https://www.taxtmi.com/caselaws?id=418623 The Tribunal upheld the deletion of the addition concerning unexplained investment in M/s. Global Capital Markets Ltd., emphasizing the requirement of incriminating material in search assessment proceedings. The appeal was dismissed, confirming the decision of the ld. CIT(A) and highlighting that unabated assessments cannot be disturbed without such material, as per legal precedents cited, including the Continental Warehousing case and Kabul Chawla decision. The Tribunal deemed the Revenue's arguments on the impugned additions as academic, leaving the merits issues unaddressed. en-us Wed, 16 Feb 2022 00:00:00 +0530 Sat, 19 Feb 2022 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418623 The Tribunal upheld the deletion of the addition concerning unexplained investment in M/s. Global Capital Markets Ltd., emphasizing the requirement of incriminating material in search assessment proceedings. The appeal was dismissed, confirming the decision of the ld. CIT(A) and highlighting that unabated assessments cannot be disturbed without such material, as per legal precedents cited, including the Continental Warehousing case and Kabul Chawla decision. The Tribunal deemed the Revenue's arguments on the impugned additions as academic, leaving the merits issues unaddressed. Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418623