https://www.taxtmi.com/caselaws?id=304432 The Appellate Tribunal, ITAT Mumbai, dismissed Revenue's appeals related to Sec. 153C of the Income Tax Act for Assessment Years 2004-05 to 2009-10 for M/s. Speciality Paper Ltd. The Tribunal held that additions without incriminating material are impermissible under Sec. 153C, following the precedent set by the Hon'ble Bombay High Court. The Tribunal upheld the CIT(A)'s decision to delete the additions due to the lack of incriminating material. The Tribunal rejected the Revenue's arguments citing judgments from the Hon'ble Kerala High Court, affirming the application of the Bombay High Court's decision. The Tribunal's order favored the assessees, emphasizing the need for incriminating material for additions under the Income Tax Act. en-us Wed, 21 Mar 2018 00:00:00 +0530 Tue, 27 Sep 2022 07:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304432 The Appellate Tribunal, ITAT Mumbai, dismissed Revenue's appeals related to Sec. 153C of the Income Tax Act for Assessment Years 2004-05 to 2009-10 for M/s. Speciality Paper Ltd. The Tribunal held that additions without incriminating material are impermissible under Sec. 153C, following the precedent set by the Hon'ble Bombay High Court. The Tribunal upheld the CIT(A)'s decision to delete the additions due to the lack of incriminating material. The Tribunal rejected the Revenue's arguments citing judgments from the Hon'ble Kerala High Court, affirming the application of the Bombay High Court's decision. The Tribunal's order favored the assessees, emphasizing the need for incriminating material for additions under the Income Tax Act. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304432