https://www.taxtmi.com/caselaws?id=438243 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals and allowing the assessee's appeal. It held that additions made by the AO under section 143(3) r.w.s 153A were not sustainable without incriminating material found during the search. Additionally, using materials from third parties without complying with section 153C was deemed unlawful. The Tribunal found the share application money and unsecured loans were not unexplained cash credits under section 68, as the assessee provided adequate evidence. Expenses for accommodation entries were also deemed unjustified. en-us Fri, 19 May 2023 00:00:00 +0530 Thu, 25 May 2023 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438243 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeals and allowing the assessee's appeal. It held that additions made by the AO under section 143(3) r.w.s 153A were not sustainable without incriminating material found during the search. Additionally, using materials from third parties without complying with section 153C was deemed unlawful. The Tribunal found the share application money and unsecured loans were not unexplained cash credits under section 68, as the assessee provided adequate evidence. Expenses for accommodation entries were also deemed unjustified. Case-Laws Income Tax Fri, 19 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438243