https://www.taxtmi.com/caselaws?id=458198 Assessment under search proceedings requires presence of incriminating material discovered at the assessee's premises to justify additions in an assessment under section 153A; absent such material, additions cannot be sustained, and exemptions shown in books and return (including long term capital gain exemption) cannot be disallowed solely on third party statements. Concurrent factual findings that no incriminating documents were found defeat reliance on extraneous statements. Recent decisions of higher courts were considered to reiterate that evidentiary value of material seized at the assessee's place governs the validity of additions. en-us Tue, 01 Aug 2023 00:00:00 +0530 Wed, 11 Feb 2026 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458198 Assessment under search proceedings requires presence of incriminating material discovered at the assessee's premises to justify additions in an assessment under section 153A; absent such material, additions cannot be sustained, and exemptions shown in books and return (including long term capital gain exemption) cannot be disallowed solely on third party statements. Concurrent factual findings that no incriminating documents were found defeat reliance on extraneous statements. Recent decisions of higher courts were considered to reiterate that evidentiary value of material seized at the assessee's place governs the validity of additions. Case-Laws Income Tax Tue, 01 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458198