https://www.taxtmi.com/caselaws?id=763054 The ITAT Delhi held that assessment proceedings u/s 153A for A.Y. 2008-09 were barred by limitation as they exceeded the ten-year period from the search year, with no incriminating material found during search. The assessment order was deemed without jurisdiction and legally barred. Regarding business additions, the CIT(A)'s deletion was upheld as the assessee adequately substantiated mutual fund investments through audited financial statements and tax audit reports in Form 3CD, with the AO acknowledging the genuineness of trading activities in shares and mutual funds in the remand report. en-us Fri, 29 Nov 2024 00:00:00 +0530 Wed, 11 Dec 2024 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763054 The ITAT Delhi held that assessment proceedings u/s 153A for A.Y. 2008-09 were barred by limitation as they exceeded the ten-year period from the search year, with no incriminating material found during search. The assessment order was deemed without jurisdiction and legally barred. Regarding business additions, the CIT(A)'s deletion was upheld as the assessee adequately substantiated mutual fund investments through audited financial statements and tax audit reports in Form 3CD, with the AO acknowledging the genuineness of trading activities in shares and mutual funds in the remand report. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763054