https://www.taxtmi.com/caselaws?id=311990 ITAT Mumbai ruled in favor of the assessee regarding assessment u/s 153A for AY 2012-13 and 2014-15. The tribunal held that additions made towards alleged bogus purchases and u/s 40A(2)(a) without any incriminating materials found during search were liable to be deleted. Since these were unabated assessment years, the AO could only make additions based on incriminating materials discovered during search. Following precedents from SC and Delhi HC, the assessee's appeal was allowed. en-us Wed, 26 Apr 2023 00:00:00 +0530 Fri, 26 Jan 2024 13:53:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311990 ITAT Mumbai ruled in favor of the assessee regarding assessment u/s 153A for AY 2012-13 and 2014-15. The tribunal held that additions made towards alleged bogus purchases and u/s 40A(2)(a) without any incriminating materials found during search were liable to be deleted. Since these were unabated assessment years, the AO could only make additions based on incriminating materials discovered during search. Following precedents from SC and Delhi HC, the assessee's appeal was allowed. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311990