https://www.taxtmi.com/caselaws?id=442297 The Tribunal dismissed the Revenue's appeal regarding the addition of Rs. 5,30,62,000/- made on a protective basis in relation to share capital. The Commissioner of Income Tax (Appeals) had deleted the addition, citing the absence of incriminating material found during the search, in line with precedents like CIT vs. Kabul Chawla and PCIT vs. Abhisar Buildwell Pvt. Ltd. The Tribunal upheld this decision, emphasizing that additions under section 153A must be supported by incriminating material, which was lacking in this case. en-us Fri, 25 Aug 2023 00:00:00 +0530 Tue, 29 Aug 2023 08:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442297 The Tribunal dismissed the Revenue's appeal regarding the addition of Rs. 5,30,62,000/- made on a protective basis in relation to share capital. The Commissioner of Income Tax (Appeals) had deleted the addition, citing the absence of incriminating material found during the search, in line with precedents like CIT vs. Kabul Chawla and PCIT vs. Abhisar Buildwell Pvt. Ltd. The Tribunal upheld this decision, emphasizing that additions under section 153A must be supported by incriminating material, which was lacking in this case. Case-Laws Income Tax Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442297