https://www.taxtmi.com/caselaws?id=421010 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeals. It was found that the seized documents were part of regular books of accounts and did not constitute incriminating material for the relevant assessment years. The Tribunal emphasized the necessity of additions being strictly based on seized/incriminating material discovered during search and seizure operations, in line with legal precedents. Consequently, the appeals were rejected, affirming the CIT(A)'s ruling that the notice issued under section 153C lacked validity due to the absence of incriminating material. en-us Tue, 12 Apr 2022 00:00:00 +0530 Thu, 14 Apr 2022 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421010 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeals. It was found that the seized documents were part of regular books of accounts and did not constitute incriminating material for the relevant assessment years. The Tribunal emphasized the necessity of additions being strictly based on seized/incriminating material discovered during search and seizure operations, in line with legal precedents. Consequently, the appeals were rejected, affirming the CIT(A)'s ruling that the notice issued under section 153C lacked validity due to the absence of incriminating material. Case-Laws Income Tax Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421010