https://www.taxtmi.com/caselaws?id=305463 The Tribunal held that no additions can be made under Section 153A without incriminating material found during the search. The assessment framed under Section 153A for AY 2010-11 was quashed due to the absence of incriminating material. The Tribunal also ruled in favor of the assessee regarding the addition of GDR proceeds as unexplained credit under Section 68, citing lack of concrete evidence. Various disallowances were either deleted or restricted, with issues related to natural justice violations and estimation of profit on stock shortage being addressed in favor of the assessee. The Tribunal provided detailed and reasoned decisions based on legal principles and factual analysis. en-us Thu, 28 Feb 2019 00:00:00 +0530 Mon, 05 Dec 2022 21:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305463 The Tribunal held that no additions can be made under Section 153A without incriminating material found during the search. The assessment framed under Section 153A for AY 2010-11 was quashed due to the absence of incriminating material. The Tribunal also ruled in favor of the assessee regarding the addition of GDR proceeds as unexplained credit under Section 68, citing lack of concrete evidence. Various disallowances were either deleted or restricted, with issues related to natural justice violations and estimation of profit on stock shortage being addressed in favor of the assessee. The Tribunal provided detailed and reasoned decisions based on legal principles and factual analysis. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305463