https://www.taxtmi.com/caselaws?id=450984 ITAT Chandigarh ruled in favor of the assessee in a section 153A assessment case, holding that additions under section 68 were invalid without incriminating material found during search proceedings. Following SC precedent in Abhisar Buildwell, the tribunal found AO cannot make additions for completed assessments absent search-related incriminating evidence. The tribunal deleted all additions including unexplained cash credits, disallowed expenses, and depreciation claims, noting authorities failed to rebut documentary evidence provided by the assessee and made additions based solely on third-party directions without proper inquiry. en-us Fri, 02 Feb 2024 00:00:00 +0530 Mon, 18 Mar 2024 07:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450984 ITAT Chandigarh ruled in favor of the assessee in a section 153A assessment case, holding that additions under section 68 were invalid without incriminating material found during search proceedings. Following SC precedent in Abhisar Buildwell, the tribunal found AO cannot make additions for completed assessments absent search-related incriminating evidence. The tribunal deleted all additions including unexplained cash credits, disallowed expenses, and depreciation claims, noting authorities failed to rebut documentary evidence provided by the assessee and made additions based solely on third-party directions without proper inquiry. Case-Laws Income Tax Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450984