https://www.taxtmi.com/caselaws?id=313150 The Gujarat HC ruled in favor of the assessee regarding additions under sections 68 and 69C for bogus LTCG and related expenses in a section 153A assessment. Following the SC decision in Abhisar Buildwell P. Ltd., the court held that no additions can be made for completed/unabated assessments without incriminating material found during search operations. The HC confirmed the established precedent that incriminating evidence is mandatory for such additions in search assessments. en-us Thu, 04 May 2023 00:00:00 +0530 Thu, 28 Mar 2024 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313150 The Gujarat HC ruled in favor of the assessee regarding additions under sections 68 and 69C for bogus LTCG and related expenses in a section 153A assessment. Following the SC decision in Abhisar Buildwell P. Ltd., the court held that no additions can be made for completed/unabated assessments without incriminating material found during search operations. The HC confirmed the established precedent that incriminating evidence is mandatory for such additions in search assessments. Case-Laws Income Tax Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313150