https://www.taxtmi.com/caselaws?id=448012 The ITAT Delhi held that the AO erred in reopening assessment u/s 147 and making additions u/s 68 based solely on incriminating material found during search of another person. The tribunal ruled that when an assessee's explanation u/s 68 is being discredited using evidence found elsewhere, the assessment should be conducted u/s 153C (for other persons) rather than u/s 147. The CIT(A) failed to examine how the AO relied exclusively on material from another party's case. The assessee's appeal was allowed. en-us Tue, 31 Oct 2023 00:00:00 +0530 Wed, 10 Jan 2024 09:20:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448012 The ITAT Delhi held that the AO erred in reopening assessment u/s 147 and making additions u/s 68 based solely on incriminating material found during search of another person. The tribunal ruled that when an assessee's explanation u/s 68 is being discredited using evidence found elsewhere, the assessment should be conducted u/s 153C (for other persons) rather than u/s 147. The CIT(A) failed to examine how the AO relied exclusively on material from another party's case. The assessee's appeal was allowed. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448012