https://www.taxtmi.com/caselaws?id=448342 ITAT Delhi ruled against revenue in assessment u/s 153A proceedings. The tribunal held that additions and disallowances in completed assessments are permissible only when based on incriminating material found during search, relying on Abhisar Builwell and Kabul Chawla precedents. Since no incriminating material was found during search and referenced in assessment order, AO was not entitled to make additions. Revenue failed to demonstrate nature of material justifying additions. Construction cost additions were based on valuation estimates without nexus to incriminating documents and related to subsequent assessment year, not AY 2011-12 in question. en-us Thu, 09 Nov 2023 00:00:00 +0530 Tue, 16 Jan 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448342 ITAT Delhi ruled against revenue in assessment u/s 153A proceedings. The tribunal held that additions and disallowances in completed assessments are permissible only when based on incriminating material found during search, relying on Abhisar Builwell and Kabul Chawla precedents. Since no incriminating material was found during search and referenced in assessment order, AO was not entitled to make additions. Revenue failed to demonstrate nature of material justifying additions. Construction cost additions were based on valuation estimates without nexus to incriminating documents and related to subsequent assessment year, not AY 2011-12 in question. Case-Laws Income Tax Thu, 09 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448342