https://www.taxtmi.com/caselaws?id=449307 The ITAT Delhi held that an assessment under section 153A was not abated since the search was conducted before the time limit for issuing notice under section 143(2) expired. Following Chintels India Ltd., the tribunal ruled that if the notice period is still available, the assessment cannot be considered completed. The AO's addition of unexplained cash credit under section 68 was upheld as it was based on proper enquiry, not restricted to seized materials. The CIT(A)'s deletion of the addition was set aside, and the revenue's appeal was allowed. en-us Wed, 07 Feb 2024 00:00:00 +0530 Fri, 09 Feb 2024 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449307 The ITAT Delhi held that an assessment under section 153A was not abated since the search was conducted before the time limit for issuing notice under section 143(2) expired. Following Chintels India Ltd., the tribunal ruled that if the notice period is still available, the assessment cannot be considered completed. The AO's addition of unexplained cash credit under section 68 was upheld as it was based on proper enquiry, not restricted to seized materials. The CIT(A)'s deletion of the addition was set aside, and the revenue's appeal was allowed. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449307