https://www.taxtmi.com/caselaws?id=458565 ITAT Mumbai ruled in favor of the assessee regarding assessment under section 153A. The tribunal held that additions made under section 68 for unsecured loans, interest, notional commission expenses, and various other expenses including labor charges, professional fees, brokerage, and compensation were not supported by incriminating material found during search. Regular books maintained in tally software did not constitute incriminating evidence. Since no incriminating material backed the additions, the AO was directed to delete all impugned additions made in the unabated assessment year. en-us Fri, 02 Sep 2022 00:00:00 +0530 Wed, 06 Nov 2024 19:52:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458565 ITAT Mumbai ruled in favor of the assessee regarding assessment under section 153A. The tribunal held that additions made under section 68 for unsecured loans, interest, notional commission expenses, and various other expenses including labor charges, professional fees, brokerage, and compensation were not supported by incriminating material found during search. Regular books maintained in tally software did not constitute incriminating evidence. Since no incriminating material backed the additions, the AO was directed to delete all impugned additions made in the unabated assessment year. Case-Laws Income Tax Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458565