https://www.taxtmi.com/caselaws?id=459587 ITAT Delhi held that assessment under section 153A cannot be framed without incriminating material found during search. The tribunal found no incriminating material from assessee's premises, only electronic conversations unrelated to assessee and statements from third parties. Following Supreme Court precedent in Abhisar Buildwell, the assessment order was set aside. Additionally, section 68 addition was deleted as there was no dispute regarding goods movement, purchases, or stock details. The tribunal criticized inconsistent profit margin application by CIT(A) and ruled against revenue on both issues. en-us Mon, 06 Nov 2023 00:00:00 +0530 Thu, 19 Dec 2024 08:47:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459587 ITAT Delhi held that assessment under section 153A cannot be framed without incriminating material found during search. The tribunal found no incriminating material from assessee's premises, only electronic conversations unrelated to assessee and statements from third parties. Following Supreme Court precedent in Abhisar Buildwell, the assessment order was set aside. Additionally, section 68 addition was deleted as there was no dispute regarding goods movement, purchases, or stock details. The tribunal criticized inconsistent profit margin application by CIT(A) and ruled against revenue on both issues. Case-Laws Income Tax Mon, 06 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459587