https://www.taxtmi.com/caselaws?id=754750 ITAT Delhi allowed the assessee's appeal against additions made under section 153A assessment. The tribunal held that Revenue cannot interfere with concluded assessments without specific incriminating material found during search operations. Following Supreme Court precedent in Abhisar Buildwell, additions based solely on appraisal reports without connection to seized material were quashed. Additionally, disallowances under sections 68 and 69C were set aside as the expenditure was capital in nature, related to different assessment year, and sections 68/69C were inapplicable to expenditure outflows rather than unexplained credits. en-us Tue, 13 Feb 2024 00:00:00 +0530 Sat, 29 Jun 2024 09:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754750 ITAT Delhi allowed the assessee's appeal against additions made under section 153A assessment. The tribunal held that Revenue cannot interfere with concluded assessments without specific incriminating material found during search operations. Following Supreme Court precedent in Abhisar Buildwell, additions based solely on appraisal reports without connection to seized material were quashed. Additionally, disallowances under sections 68 and 69C were set aside as the expenditure was capital in nature, related to different assessment year, and sections 68/69C were inapplicable to expenditure outflows rather than unexplained credits. Case-Laws Income Tax Tue, 13 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754750