https://www.taxtmi.com/caselaws?id=448830 The Gujarat HC dismissed an appeal concerning assessment under Section 153A and disallowance of interest under Section 36(1)(iii). The court held that regular items shown in books of accounts cannot be added to taxable income unless incriminating material is found during search proceedings under Section 132(1). Following precedent from Saumya Constructions Limited and Abhisar Buildwell P. Ltd., the court ruled that without incriminating material discovered during search, the AO cannot make additions for completed/unabated assessments. The Tribunal's finding that no contrary evidence was presented against the CIT(A)'s decision was upheld. No substantial question of law arose. en-us Tue, 23 Jan 2024 00:00:00 +0530 Tue, 30 Jan 2024 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448830 The Gujarat HC dismissed an appeal concerning assessment under Section 153A and disallowance of interest under Section 36(1)(iii). The court held that regular items shown in books of accounts cannot be added to taxable income unless incriminating material is found during search proceedings under Section 132(1). Following precedent from Saumya Constructions Limited and Abhisar Buildwell P. Ltd., the court ruled that without incriminating material discovered during search, the AO cannot make additions for completed/unabated assessments. The Tribunal's finding that no contrary evidence was presented against the CIT(A)'s decision was upheld. No substantial question of law arose. Case-Laws Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448830