https://www.taxtmi.com/caselaws?id=766760 ITAT Delhi quashed assessment order under section 153A regarding alleged bogus purchases. The tribunal held that additions cannot be made solely based on recorded statements without incriminating material found during search. Despite statements from third parties recorded before and after search, no corroborative evidence or discrepancies in purchase/stock records were found. The assessee provided complete quantitative details of raw materials supported by tax audit reports. The tribunal ruled that circumstantial evidence without corroborative proof cannot constitute incriminating material, requiring quashing of the assessment order. en-us Fri, 28 Feb 2025 00:00:00 +0530 Tue, 04 Mar 2025 07:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766760 ITAT Delhi quashed assessment order under section 153A regarding alleged bogus purchases. The tribunal held that additions cannot be made solely based on recorded statements without incriminating material found during search. Despite statements from third parties recorded before and after search, no corroborative evidence or discrepancies in purchase/stock records were found. The assessee provided complete quantitative details of raw materials supported by tax audit reports. The tribunal ruled that circumstantial evidence without corroborative proof cannot constitute incriminating material, requiring quashing of the assessment order. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766760