https://www.taxtmi.com/caselaws?id=422841 The Tribunal allowed the appeal, quashing the lower authorities' orders and deleting the additions made in the assessment under section 153A/143(3) of the Income Tax Act. The Tribunal found that the Deputy Commissioner lacked jurisdiction to initiate proceedings under section 153A due to the absence of incriminating material, following the legal principles established in the CIT vs. Kabul Chawla case. Consequently, the additions on account of the sale of shares were deemed invalid, and the appeal of the assessee was upheld. en-us Fri, 20 May 2022 00:00:00 +0530 Mon, 23 May 2022 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422841 The Tribunal allowed the appeal, quashing the lower authorities' orders and deleting the additions made in the assessment under section 153A/143(3) of the Income Tax Act. The Tribunal found that the Deputy Commissioner lacked jurisdiction to initiate proceedings under section 153A due to the absence of incriminating material, following the legal principles established in the CIT vs. Kabul Chawla case. Consequently, the additions on account of the sale of shares were deemed invalid, and the appeal of the assessee was upheld. Case-Laws Income Tax Fri, 20 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422841