https://www.taxtmi.com/caselaws?id=313428 The Gujarat HC ruled in favor of the assessee in a case involving assessment under section 153A regarding incriminating material found during search. The court addressed additions under section 68 for bogus long-term capital gains and section 69C for related expenses. Following SC precedent in Abhisar Buildwell P. Ltd. and earlier HC decisions in Kabul Chawla and Saumya Construction, the court held that no additions can be made to completed assessments without incriminating material, and the assessing officer lacks jurisdiction to reopen completed assessments absent such material. en-us Thu, 04 May 2023 00:00:00 +0530 Wed, 18 Dec 2024 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313428 The Gujarat HC ruled in favor of the assessee in a case involving assessment under section 153A regarding incriminating material found during search. The court addressed additions under section 68 for bogus long-term capital gains and section 69C for related expenses. Following SC precedent in Abhisar Buildwell P. Ltd. and earlier HC decisions in Kabul Chawla and Saumya Construction, the court held that no additions can be made to completed assessments without incriminating material, and the assessing officer lacks jurisdiction to reopen completed assessments absent such material. Case-Laws Income Tax Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313428