https://www.taxtmi.com/caselaws?id=429089 The Tribunal held that no additions could be made under section 153A for assessments completed before the search date without incriminating material. It emphasized that additions based on unverified surveys were not valid. The Tribunal ruled in favor of the assessee, deleting the additions of Rs. 5,20,00,000 for unexplained share premium and Rs. 5,95,00,000 for unexplained unsecured loans, as the original assessments had already accepted these amounts as genuine. The Tribunal dismissed the revenue's appeal, upholding the principle that assessments can only be altered with incriminating material discovered during the search. en-us Wed, 24 Aug 2022 00:00:00 +0530 Tue, 18 Oct 2022 08:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429089 The Tribunal held that no additions could be made under section 153A for assessments completed before the search date without incriminating material. It emphasized that additions based on unverified surveys were not valid. The Tribunal ruled in favor of the assessee, deleting the additions of Rs. 5,20,00,000 for unexplained share premium and Rs. 5,95,00,000 for unexplained unsecured loans, as the original assessments had already accepted these amounts as genuine. The Tribunal dismissed the revenue's appeal, upholding the principle that assessments can only be altered with incriminating material discovered during the search. Case-Laws Income Tax Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429089