https://www.taxtmi.com/caselaws?id=308646 The SC dismissed the Revenue's appeal concerning the scope of additions during assessment under section 153A of the Income Tax Act, 1961. The Court upheld the Income Tax Appellate Tribunal's decision, which followed the precedent set in Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. The SC confirmed that additions in completed assessments under section 153A are only permissible if based on incriminating material found during a search. The appeal was dismissed as the legal position was already settled in favor of the taxpayer, with no merit found in the Revenue's arguments. en-us Fri, 05 May 2023 00:00:00 +0530 Wed, 25 Oct 2023 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308646 The SC dismissed the Revenue's appeal concerning the scope of additions during assessment under section 153A of the Income Tax Act, 1961. The Court upheld the Income Tax Appellate Tribunal's decision, which followed the precedent set in Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. The SC confirmed that additions in completed assessments under section 153A are only permissible if based on incriminating material found during a search. The appeal was dismissed as the legal position was already settled in favor of the taxpayer, with no merit found in the Revenue's arguments. Case-Laws Income Tax Fri, 05 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308646